Boeing (NYSE:BA) Rating Lowered to Sell at StockNews.com

Posted by Erica Schwartz on May 26th, 2023

StockNews.com cut shares of Boeing (NYSE:BA – Get Rating) from a hold rating to a sell rating in a report issued on Monday.

Several other brokerages have also commented on BA. Royal Bank of Canada cut their price target on Boeing from $225.00 to $220.00 in a research note on Thursday, April 27th. Jefferies Financial Group lifted their price target on Boeing from $240.00 to $250.00 and gave the company a buy rating in a research report on Monday, January 30th. Credit Suisse Group boosted their price objective on Boeing from $200.00 to $220.00 in a research report on Monday, April 10th. Wells Fargo & Company boosted their price objective on Boeing from $230.00 to $237.00 in a research note on Thursday, April 27th. Finally, The Goldman Sachs Group upped their price target on Boeing from $261.00 to $270.00 and gave the company a buy rating in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $221.60.

Boeing Stock Up 0.8 %

NYSE BA opened at $200.87 on Monday. Boeing has a 52 week low of $113.02 and a 52 week high of $221.33. The firm has a market capitalization of $120.84 billion, a P/E ratio of -29.03 and a beta of 1.43. The company has a 50-day moving average price of $204.96 and a 200-day moving average price of $199.40.

Boeing (NYSE:BA – Get Rating) last posted its earnings results on Wednesday, April 26th. The aircraft producer reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.29). The firm had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.56 billion. During the same period in the prior year, the company earned ($2.75) EPS. The business’s revenue was up 28.1% on a year-over-year basis. As a group, equities research analysts anticipate that Boeing will post -0.73 EPS for the current year.

Insider Activity at Boeing

In other Boeing news, EVP Howard E. Mckenzie sold 412 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $204.36, for a total transaction of $84,196.32. Following the sale, the executive vice president now owns 17,181 shares of the company’s stock, valued at approximately $3,511,109.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its stake in shares of Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after purchasing an additional 16,041,103 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Boeing by 734.7% in the first quarter. Fisher Asset Management LLC now owns 4,359,740 shares of the aircraft producer’s stock valued at $926,140,000 after acquiring an additional 3,837,422 shares in the last quarter. BlackRock Inc. boosted its stake in Boeing by 8.1% in the first quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock valued at $7,636,970,000 after acquiring an additional 2,682,272 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Boeing by 1,071.3% in the first quarter. Renaissance Technologies LLC now owns 2,592,100 shares of the aircraft producer’s stock valued at $550,640,000 after acquiring an additional 2,370,800 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Boeing by 1,050.3% during the first quarter. Two Sigma Advisers LP now owns 1,735,800 shares of the aircraft producer’s stock worth $368,736,000 after buying an additional 1,584,900 shares during the period. 57.07% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company Profile

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.