Boeing’s (BA) Buy Rating Reiterated at Bank of America

Bank of America reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research note published on Friday morning,Benzinga reports. Bank of America currently has a $270.00 price objective on the aircraft producer’s stock.

BA has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Barclays cut shares of Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research note on Tuesday, August 11th. BNP Paribas Exane upgraded Boeing from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $300.00 in a report on Monday, August 3rd. Finally, Wolfe Research lowered Boeing from an “outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.45.

Boeing Trading Up 0.1%

BA stock opened at $198.38 on Friday. Boeing has a 52-week low of $176.77 and a 52-week high of $254.35. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The firm has a market cap of $156.80 billion, a P/E ratio of 85.88 and a beta of 1.21. The company’s 50-day simple moving average is $216.12 and its 200-day simple moving average is $218.19.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The business had revenue of $24.56 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.24) earnings per share. As a group, equities analysts forecast that Boeing will post -0.91 EPS for the current fiscal year.

Institutional Trading of Boeing

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in Boeing by 16.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer’s stock worth $9,182,000 after buying an additional 5,862 shares during the last quarter. Rakuten Investment Management Inc. lifted its stake in Boeing by 502.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock valued at $22,398,000 after buying an additional 85,982 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Boeing in the first quarter valued at approximately $7,961,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Boeing by 103.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock valued at $2,237,000 after acquiring an additional 5,726 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Boeing by 47.5% in the fourth quarter. Deutsche Bank AG now owns 2,376,243 shares of the aircraft producer’s stock valued at $515,930,000 after acquiring an additional 765,197 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: NASA is reportedly discussing additional missions for Boeing’s Starliner spacecraft. The vehicle’s return to service could improve confidence in Boeing’s space business and help repair reputational damage from earlier mission problems. NASA in talks for Boeing’s Starliner to handle new missions
• Positive Sentiment: Bank of America reaffirmed its Buy rating and set a $270 price target, arguing that the recent decline following management’s production comments was an overreaction. The firm sees longer-term recovery potential, although it identified labor negotiations as a near-term risk. Boeing selloff overdone despite CEO’s production comments
• Positive Sentiment: The FAA authorized Boeing to sell up to 35 additional 777F freighters after 2028 by waiving applicable emissions rules. The decision provides incremental sales opportunity for the existing freighter program while the 777-8F replacement remains years away. FAA waives emissions rules to let Boeing sell additional 777F freighters
• Positive Sentiment: A new Joint Air-to-Surface Missile framework with Lockheed Martin could expand missile-production opportunities and support defense-sector demand, offering some diversification from Boeing’s commercial-aircraft challenges. Defense ETFs stand to gain as JATM deal is signed
• Neutral Sentiment: Boeing’s large Korean Air commitment strengthens its backlog, but much of the financial benefit is not expected until the 2030s. Investors therefore view it as a long-term demand signal rather than an immediate earnings or cash-flow catalyst. Boeing’s Korean Air deal won’t help earnings until the 2030s
• Negative Sentiment: CEO Kelly Ortberg said 737 MAX production has not stabilized at the targeted 47 aircraft per month because of wing-production bottlenecks. The slower ramp threatens delivery timing, free-cash-flow improvement and Boeing’s ability to meet its recovery targets. Boeing stock skids as CEO warns of further 737 production delays
• Negative Sentiment: Investors also remain concerned about 787 production headwinds, engine and certification issues, a further delay to 777X certification, and uncertainty surrounding potential China orders. These issues could postpone earnings and cash-flow recovery despite Boeing’s strong backlog.

About Boeing

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.