Boeing (NYSE:BA) Stock Rating Upgraded by Melius Research

Boeing (NYSE:BA) was upgraded by equities research analysts at Melius Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities analysts have also commented on BA. UBS Group raised their target price on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Melius raised Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Boeing from $103.00 to $113.00 and gave the company an “underweight” rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.68.

Boeing Trading Up 1.0 %

BA stock opened at $182.71 on Monday. Boeing has a 12-month low of $137.03 and a 12-month high of $196.95. The stock’s 50 day simple moving average is $173.50 and its 200 day simple moving average is $163.90. The stock has a market capitalization of $137.05 billion, a PE ratio of -9.97 and a beta of 1.53.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the firm earned ($0.47) EPS. On average, research analysts predict that Boeing will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC grew its stake in Boeing by 17.5% in the 3rd quarter. Penserra Capital Management LLC now owns 4,856 shares of the aircraft producer’s stock worth $738,000 after buying an additional 724 shares in the last quarter. Truvestments Capital LLC bought a new position in Boeing in the third quarter worth approximately $58,000. Qsemble Capital Management LP raised its position in shares of Boeing by 33.5% during the 3rd quarter. Qsemble Capital Management LP now owns 7,645 shares of the aircraft producer’s stock valued at $1,162,000 after purchasing an additional 1,917 shares during the period. Quantbot Technologies LP purchased a new position in Boeing during the third quarter valued at $1,295,000. Finally, Cadence Bank raised its position in shares of Boeing by 5.6% during the 3rd quarter. Cadence Bank now owns 3,043 shares of the aircraft producer’s stock valued at $463,000 after buying an additional 162 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.