The Boeing Company (NYSE:BA) Receives $192.21 Average PT from Brokerages

The Boeing Company (NYSE:BA) has received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $192.21.

Several equities research analysts have recently commented on BA shares. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Robert W. Baird lowered their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Lantz Financial LLC grew its stake in shares of Boeing by 109.7% in the second quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock worth $491,000 after acquiring an additional 1,410 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Boeing during the second quarter valued at $41,000. Caprock Group LLC lifted its holdings in Boeing by 40.0% in the second quarter. Caprock Group LLC now owns 9,982 shares of the aircraft producer’s stock valued at $1,817,000 after acquiring an additional 2,854 shares during the period. Ballentine Partners LLC boosted its position in Boeing by 4.2% in the second quarter. Ballentine Partners LLC now owns 5,584 shares of the aircraft producer’s stock worth $1,016,000 after purchasing an additional 223 shares during the last quarter. Finally, First Foundation Advisors increased its position in shares of Boeing by 8.4% during the 2nd quarter. First Foundation Advisors now owns 5,791 shares of the aircraft producer’s stock valued at $1,054,000 after purchasing an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.2 %

Shares of Boeing stock opened at $172.08 on Wednesday. The company’s fifty day simple moving average is $161.39 and its two-hundred day simple moving average is $165.16. The firm has a market cap of $106.38 billion, a PE ratio of -13.34 and a beta of 1.52. Boeing has a 12-month low of $137.03 and a 12-month high of $228.28.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.26) EPS. As a group, sell-side analysts expect that Boeing will post -16.18 earnings per share for the current fiscal year.

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.