Boeing (NYSE:BA) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Boeing (NYSE:BA) in a report released on Thursday, Benzinga reports. They currently have a $200.00 price objective on the aircraft producer’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group cut their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research note on Thursday. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $191.79.

Boeing Trading Down 0.1 %

Shares of BA stock opened at $155.01 on Thursday. The firm’s fifty day moving average price is $159.68 and its two-hundred day moving average price is $171.64. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a market capitalization of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57.

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

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. raised its position in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing during the second quarter worth about $39,000. Institutional investors 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.