The Boeing Company (NYSE:BA) Receives Average Recommendation of “Moderate Buy” from Brokerages

The Boeing Company (NYSE:BA) has been given a consensus recommendation of “Moderate Buy” by the twenty-five research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $190.37.

Several equities analysts have recently commented on BA shares. Stifel Nicolaus upped their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently modified their holdings of the business. Rehmann Capital Advisory Group grew its stake in shares of Boeing by 1.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 9,533 shares of the aircraft producer’s stock valued at $1,449,000 after acquiring an additional 158 shares during the period. TD Private Client Wealth LLC lifted its holdings in Boeing by 15.6% during the third quarter. TD Private Client Wealth LLC now owns 1,734 shares of the aircraft producer’s stock valued at $264,000 after purchasing an additional 234 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Boeing in the third quarter worth approximately $1,102,000. Asset Allocation Strategies LLC increased its stake in shares of Boeing by 43.6% in the third quarter. Asset Allocation Strategies LLC now owns 1,705 shares of the aircraft producer’s stock worth $259,000 after purchasing an additional 518 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Boeing by 7.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,579 shares of the aircraft producer’s stock valued at $1,000,000 after purchasing an additional 436 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $143.89 on Tuesday. The company has a market capitalization of $88.95 billion, a price-to-earnings ratio of -11.15 and a beta of 1.57. The business has a 50 day moving average of $152.82 and a 200 day moving average of $169.19. Boeing has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the company earned ($3.26) earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boeing will post -16.2 EPS for the current 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.