BNP Paribas Upgrades Boeing (NYSE:BA) to Strong Sell

Boeing (NYSE:BA) was upgraded by analysts at BNP Paribas to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on BA. Bank of America increased their price objective on shares of Boeing from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Sanford C. Bernstein reiterated an “outperform” rating and set a $267.00 price target on shares of Boeing in a research report on Friday, November 14th. BNP Paribas Exane started coverage on shares of Boeing in a report on Tuesday. They issued an “underperform” rating and a $150.00 price objective for the company. Jefferies Financial Group set a $255.00 target price on shares of Boeing in a research note on Tuesday, September 30th. Finally, KGI Securities raised shares of Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.09.

Boeing Stock Down 2.1%

Shares of NYSE BA opened at $185.69 on Tuesday. The firm’s 50-day moving average price is $210.44 and its two-hundred day moving average price is $214.79. Boeing has a 52-week low of $128.88 and a 52-week high of $242.69. The stock has a market capitalization of $141.15 billion, a P/E ratio of -13.57 and a beta of 1.44.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned ($10.44) EPS. As a group, equities research analysts expect that Boeing will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president owned 14,656 shares in the company, valued at approximately $2,896,904.96. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Boeing

A number of large investors have recently added to or reduced their stakes in BA. Measured Wealth Private Client Group LLC purchased a new stake in Boeing during the third quarter valued at about $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Boeing in the second quarter valued at $25,000. Piscataqua Savings Bank lifted its holdings in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of Boeing in the third quarter worth $32,000. Finally, Davis Capital Management acquired a new stake in shares of Boeing in the third quarter worth $33,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Company Profile

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.