Royal Bank of Canada Reiterates Outperform Rating for Boeing (NYSE:BA)

Boeing (NYSE:BA)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $200.00 price objective on the aircraft producer’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 11.44% from the company’s current price.

Several other equities analysts have also commented on BA. Citigroup cut their price target on Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley cut their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Boeing Stock Up 3.3 %

BA stock opened at $179.47 on Wednesday. The business’s fifty day simple moving average is $168.24 and its two-hundred day simple moving average is $164.26. Boeing has a twelve month low of $137.03 and a twelve month high of $214.63. The firm has a market cap of $110.95 billion, a price-to-earnings ratio of -13.91 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the firm posted ($0.47) earnings per share. Research analysts expect that Boeing will post -16.39 EPS for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its position in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares in the last quarter. Jennison Associates LLC raised its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Boeing by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after buying an additional 48,637 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

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.