Boeing (NYSE:BA) Stock Rating Raised to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Boeing (NYSE:BA) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks reports.

BA has been the topic of a number of other research reports. Jefferies Financial Group lowered their target price on Boeing from $295.00 to $265.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. Cantor Fitzgerald lowered Boeing to a “neutral” rating in a report on Tuesday, August 11th. Sanford C. Bernstein began coverage on Boeing in a research report on Tuesday, August 11th. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada dropped their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.95.

Boeing Stock Performance

Shares of BA stock opened at $196.72 on Thursday. Boeing has a 52 week low of $176.77 and a 52 week high of $254.35. The company has a market capitalization of $155.48 billion, a price-to-earnings ratio of 85.16 and a beta of 1.21. The company has a 50-day simple moving average of $214.71 and a 200 day simple moving average of $217.42. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The company had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.24) earnings per share. On average, sell-side analysts predict that Boeing will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. Jupiter Topco LLC bought a new stake in shares of Boeing during the 2nd quarter valued at $911,878,000. Janus Henderson Group PLC increased its position in shares of Boeing by 43.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after purchasing an additional 1,176,074 shares during the period. Bank of New York Mellon Corp increased its position in shares of Boeing by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer’s stock worth $784,555,000 after purchasing an additional 89,106 shares during the period. Legal & General Group Plc acquired a new position in Boeing in the second quarter valued at about $710,816,000. Finally, Deutsche Bank AG acquired a new position in Boeing in the second quarter valued at about $539,456,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Turkish Airlines finalized an order for up to 150 737 MAX jets, including 100 firm 737-8 aircraft and options for 50 more. Biman Bangladesh Airlines also ordered 11 787 and 737 MAX aircraft, reinforcing Boeing’s large commercial backlog. Boeing and Turkish Airlines order
• Positive Sentiment: Alaska Air expects the 737 MAX 10 to receive certification by the end of September and plans to accept its first aircraft next spring. Certification would support Boeing’s product lineup and help convert demand into deliveries. Alaska Air expects MAX 10 certification
• Positive Sentiment: Boeing is expanding its 737 MAX landing-gear exchange program after completing its first exchange with American Airlines, potentially growing higher-margin aftermarket revenue. The company also secured a $33.4 million Air Force C-17 avionics-support contract. Boeing 737 MAX landing gear exchange
• Positive Sentiment: Boeing’s engineering union recommended its latest contract, reducing near-term strike risk and supporting 777X testing. Archer Aviation also cleared an antitrust hurdle to acquire Boeing businesses including Wisk Aero, SkyGrid and Insitu, which could provide proceeds and sharpen Boeing’s portfolio.
• Neutral Sentiment: Boeing is pressing suppliers to adopt more automation as production ramps up. The initiative could improve quality and efficiency, but it also highlights ongoing manufacturing bottlenecks and the difficulty of stabilizing 737 output at targeted rates. Boeing supplier automation
• Negative Sentiment: Expectations for a new Chinese Boeing order during the Trump-Xi summit have weakened. Investors are instead focused on Boeing’s ability to execute its existing roughly 200-aircraft China agreement, removing a near-term geopolitical catalyst for the shares. China Boeing order expectations
• Negative Sentiment: Production remains the larger concern despite robust demand. Management has indicated that 737 production is not yet stable because of wing-shop flow problems, raising questions about delivery timing, cash generation and the estimated $10 billion needed to complete Boeing’s turnaround.

Boeing Company Profile

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.