Boeing (NYSE:BA) Stock Gets Downgrade from Wall Street Zen

Boeing (NYSE:BA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group cut Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Boeing from $244.00 to $248.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. TD Cowen cut their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, October 9th. JPMorgan Chase & Co. restated a “buy” rating on shares of Boeing in a research report on Sunday, September 27th. Finally, Tigress Financial lifted their target price on Boeing from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.96.

Boeing Price Performance

Boeing stock opened at $188.36 on Friday. Boeing has a 12-month low of $176.77 and a 12-month high of $254.35. The stock has a market cap of $148.87 billion, a P/E ratio of 81.54 and a beta of 1.26. The company has a 50-day moving average price of $200.75 and a 200 day moving average price of $215.16. The company has a current ratio of 1.14, a quick ratio of 0.33 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 analysts’ consensus estimates of ($0.34) by ($0.42). The firm had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%. Boeing’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned ($1.24) earnings per share. Sell-side analysts anticipate that Boeing will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Highland Investment Advisors LLC purchased a new position in shares of Boeing during the 2nd quarter worth approximately $26,000. Strategic Wealth Advisors LLC acquired a new position in Boeing during the second quarter worth $27,000. Bell Investment Advisors Inc acquired a new position in Boeing during the second quarter worth $29,000. Security National Bank of SO Dak purchased a new position in shares of Boeing during the second quarter worth $30,000. Finally, Retirement Wealth Solutions LLC boosted its position in shares of Boeing by 3,575.0% during the third quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock worth $27,000 after buying an additional 143 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The FAA has granted final certification for Boeing’s long-delayed 737 MAX 10, removing a significant hurdle for deliveries and allowing the aircraft to compete more directly with Airbus’ A321neo. The approval could support Boeing’s backlog, revenue, cash flow, and long-term competitiveness. Boeing wins FAA certification for 737 MAX 10
• Positive Sentiment: Analysts and investors expect the MAX 10 approval, rising aircraft deliveries, and stronger commercial-services demand to improve earnings and support Boeing’s turnaround. A production recovery could also improve margins across the aerospace supply chain. Great News for Boeing Investors
• Positive Sentiment: GA-ASI, a General Atomics business, is partnering with Spirit Defense, a Boeing company, to support airframe production for the FQ-42 Vengeance Collaborative Combat Aircraft. The relationship highlights potential defense-manufacturing activity for Boeing-affiliated operations, although the financial impact was not disclosed. GA-ASI Partnering With Spirit Defense For FQ-42 CCA Production
• Neutral Sentiment: Boeing is scheduled to report third-quarter results before the market opens on October 27. Investors will focus on deliveries, free cash flow, MAX production, services demand, and management’s guidance for the recovery. Boeing Stock Preps the Runway Ahead of Earnings
• Negative Sentiment: Despite the certification win, investors remain concerned about Boeing’s high debt burden, weak liquidity metrics, supply-chain delays, negative returns on invested capital, and the company’s ability to convert production growth into sustainable cash flow. What’s Going on With Boeing Shares on Friday?

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.