Boeing (NYSE:BA) Now Covered by Analysts at Citigroup

by · The Markets Daily

Citigroup assumed coverage on shares of Boeing (NYSE:BA – Free Report) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $265.00 target price on the aircraft producer’s stock.

A number of other research firms also recently weighed in on BA. Loop Capital set a $223.00 price target on Boeing in a research note on Monday, November 3rd. New Street Research set a $257.00 price objective on Boeing in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a report on Monday, September 29th. BNP Paribas Exane initiated coverage on shares of Boeing in a research report on Tuesday, November 18th. They issued an “underperform” rating and a $150.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Boeing from $251.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $232.96.

Get Our Latest Stock Analysis on BA

Boeing Stock Up 1.8%

NYSE:BA opened at $204.33 on Thursday. Boeing has a twelve month low of $128.88 and a twelve month high of $242.69. The company has a fifty day moving average of $202.82 and a 200-day moving average of $214.03. The firm has a market capitalization of $155.31 billion, a P/E ratio of -14.94 and a beta of 1.18.

Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The business had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period last year, the firm earned ($10.44) EPS. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts anticipate that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dana S. Deasy purchased 554 shares of Boeing stock in a transaction that occurred on Monday, November 24th. The stock was acquired at an average price of $178.88 per share, for a total transaction of $99,099.52. Following the transaction, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. The trade was a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently made changes to their positions in BA. Measured Wealth Private Client Group LLC acquired a new stake in shares of Boeing in the 3rd quarter valued at approximately $25,000. Harbor Asset Planning Inc. purchased a new position in Boeing in the second quarter worth $25,000. Piscataqua Savings Bank raised its position in Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 137 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in Boeing in the third quarter valued at $32,000. Finally, Davis Capital Management purchased a new stake in shares of Boeing during the 3rd quarter worth $33,000. 64.82% of the stock is currently owned by institutional investors.

About Boeing

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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.

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