Benchmark Reiterates Buy Rating for Boeing (NYSE:BA)

Boeing (NYSE:BA)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a report released on Thursday, Benzinga reports. They currently have a $250.00 price target on the aircraft producer’s stock. Benchmark’s price target points to a potential upside of 60.44% from the company’s current price.

A number of other research analysts also recently commented on the company. Sanford C. Bernstein dropped their price objective on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday, October 18th. TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Susquehanna dropped their price objective on Boeing from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Finally, Citigroup dropped their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.95.

Boeing Price Performance

Shares of BA stock traded down $1.24 during trading hours on Thursday, reaching $155.82. 4,476,565 shares of the stock were exchanged, compared to its average volume of 8,102,941. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54. The firm has a market capitalization of $95.66 billion, a P/E ratio of -43.89 and a beta of 1.57. The business’s fifty day moving average is $160.61 and its two-hundred day moving average is $172.01.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.85) by ($5.59). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($3.26) earnings per share. As a group, equities research analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares during the period. Newport Trust Company LLC lifted its position in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC grew its position in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.