Boeing’s (BA) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Boeing (NYSE:BA) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $200.00 target price on the aircraft producer’s stock.

Several other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday. Susquehanna cut their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Three 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Stock Performance

Shares of BA traded up $0.82 during mid-day trading on Thursday, reaching $156.02. The company had a trading volume of 2,012,724 shares, compared to its average volume of 8,099,113. The company’s 50 day simple moving average is $160.61 and its 200 day simple moving average is $172.01. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54. The company has a market capitalization of $95.78 billion, a price-to-earnings ratio of -43.72 and a beta of 1.57.

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

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently bought and sold shares of BA. Vanguard Group Inc. boosted its stake in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC raised 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 valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA raised its position in Boeing by 1.4% in the second 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 during the period. Jennison Associates LLC grew its stake in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares in the last quarter. 64.82% of the stock is 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.