Boeing’s (BA) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Boeing (NYSE:BA) in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $200.00 target price on the aircraft producer’s stock.

Several other research analysts also recently weighed in on BA. JPMorgan Chase & Co. dropped their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. UBS Group lowered their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Morgan Stanley reduced their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Performance

BA opened at $154.24 on Wednesday. Boeing has a one year low of $146.02 and a one year high of $267.54. The stock has a market cap of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57. The stock’s 50 day moving average price is $158.34 and its 200-day moving average price is $171.24.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new position in shares of Boeing in the first quarter worth $310,000. Norden Group LLC purchased a new stake in shares of Boeing in the 1st quarter valued at approximately $1,759,000. Kovack Advisors Inc. boosted its position in shares of Boeing by 14.9% in the first quarter. Kovack Advisors Inc. now owns 4,361 shares of the aircraft producer’s stock worth $842,000 after buying an additional 567 shares during the period. Accel Wealth Management boosted its position in Boeing by 18.1% during the 1st quarter. Accel Wealth Management now owns 1,669 shares of the aircraft producer’s stock worth $322,000 after acquiring an additional 256 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Boeing by 2.3% during the first quarter. Maryland State Retirement & Pension System now owns 44,405 shares of the aircraft producer’s stock worth $8,570,000 after purchasing an additional 993 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.