Wolfe Research Upgrades Boeing (NYSE:BA) to “Strong-Buy”

Boeing (NYSE:BA) was upgraded by equities research analysts at Wolfe Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

BA has been the topic of several other research reports. Robert W. Baird set a $300.00 target price on Boeing in a research note on Wednesday, July 29th. The Goldman Sachs Group downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Tigress Financial increased their target price on shares of Boeing from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group assumed coverage on shares of Boeing in a report on Tuesday, August 11th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada dropped their price target on shares of Boeing from $275.00 to $265.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $270.95.

Boeing Price Performance

Shares of NYSE:BA opened at $196.72 on Thursday. The company’s fifty day moving average is $214.71 and its two-hundred day moving average is $217.42. The company has a market cap of $155.48 billion, a P/E ratio of 85.16 and a beta of 1.21. Boeing has a 12-month low of $176.77 and a 12-month 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.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same period last year, the business earned ($1.24) EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Boeing will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BA. QRG Capital Management Inc. lifted its stake in shares of Boeing by 449.6% in the 2nd quarter. QRG Capital Management Inc. now owns 571,042 shares of the aircraft producer’s stock valued at $123,613,000 after purchasing an additional 467,137 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Boeing by 116.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 72,412 shares of the aircraft producer’s stock worth $15,675,000 after buying an additional 39,007 shares during the last quarter. Premier Financial Group acquired a new position in Boeing during the second quarter worth $128,000. Security National Bank of SO Dak bought a new position in Boeing during the second quarter valued at about $30,000. Finally, Anchor Investment Management LLC lifted its position in shares of Boeing by 1.7% in the second quarter. Anchor Investment Management LLC now owns 10,252 shares of the aircraft producer’s stock worth $2,219,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Key Stories Impacting Boeing

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.