Boeing’s (BA) Outperform Rating Reiterated at Royal Bank of Canada

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

Other analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $190.42.

Boeing Stock Up 3.5 %

Shares of NYSE:BA opened at $154.59 on Wednesday. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a 50-day moving average price of $157.46 and a 200 day moving average price of $171.00. The company has a market cap of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57.

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 analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. Analysts expect that Boeing will post -16.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. grew its stake in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the period. Wulff Hansen & CO. raised its stake in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.