Boeing (NYSE:BA) Upgraded by Melius Research to Strong-Buy Rating

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

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

Boeing Price Performance

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

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the business posted ($0.47) earnings per share. As a group, analysts forecast that Boeing will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

A number of institutional investors have recently made changes to their positions in BA. Sierra Ocean LLC bought a new stake in Boeing in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing in the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in Boeing during the fourth quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after buying an additional 90 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.