Wells Fargo & Company Forecasts Strong Price Appreciation for Boeing (NYSE:BA) Stock

Boeing (NYSE:BA - Free Report) had its target price upped by Wells Fargo & Company from $85.00 to $103.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the aircraft producer's stock.

BA has been the topic of several other reports. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. DZ Bank lowered shares of Boeing from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a research note on Tuesday, October 15th. Citigroup reduced their target price on shares of Boeing from $209.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Boeing from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Finally, Northcoast Research raised shares of Boeing from a "sell" rating to a "neutral" rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of "Moderate Buy" and a consensus price target of $195.00.

Boeing Trading Up 2.6 %

NYSE BA traded up $4.44 during trading hours on Wednesday, hitting $178.10. 3,726,888 shares of the company's stock traded hands, compared to its average volume of 8,722,043. Boeing has a 52 week low of $137.03 and a 52 week high of $214.63. The firm has a market capitalization of $110.10 billion, a P/E ratio of -13.81 and a beta of 1.52. The business's fifty day moving average price is $168.24 and its two-hundred day moving average price is $164.26.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.60) by ($4.30). During the same period last year, the firm posted ($0.47) earnings per share. On average, sell-side analysts expect that Boeing will post -16.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the fourth quarter worth $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing in the third quarter valued at $30,000. Finally, Heck Capital Advisors LLC purchased a new position in Boeing in the fourth quarter valued at $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.