Boeing (NYSE:BA) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Boeing (NYSE:BA) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $200.00 target price on the aircraft producer’s stock.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein lowered their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Stock Performance

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

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($3.26) earnings per share. On average, research analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently bought and sold shares of the business. Brookstone Capital Management grew its stake in shares of Boeing by 5.8% during the first quarter. Brookstone Capital Management now owns 12,613 shares of the aircraft producer’s stock worth $2,434,000 after purchasing an additional 689 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Boeing during the first quarter worth about $58,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Boeing by 8.4% during the 1st quarter. Atlantic Union Bankshares Corp now owns 1,163 shares of the aircraft producer’s stock valued at $224,000 after purchasing an additional 90 shares in the last quarter. Sawyer & Company Inc acquired a new position in shares of Boeing in the 1st quarter valued at approximately $82,000. Finally, Norway Savings Bank increased its position in shares of Boeing by 16.8% during the first quarter. Norway Savings Bank now owns 7,581 shares of the aircraft producer’s stock worth $1,463,000 after acquiring an additional 1,090 shares in the last quarter. 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.