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

Royal Bank of Canada reiterated their outperform rating on shares of Boeing (NYSE:BA) in a report released on Wednesday, Benzinga reports. They currently have a $200.00 target price on the aircraft producer’s stock.

Several other research firms also recently commented on BA. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Robert W. Baird decreased their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, TD Cowen decreased their target price 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Performance

Shares of BA opened at $154.59 on Wednesday. The company’s 50 day moving average price is $157.46 and its 200 day moving average price is $171.00. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a market capitalization of $95.57 billion, a PE ratio of -11.98 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.26) earnings per share. On average, equities analysts forecast that Boeing will post -16.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several large investors have recently bought and sold shares of BA. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. raised its stake in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.