Boeing (NYSE:BA) Stock Rating Reaffirmed by Royal Bank of Canada

Boeing (NYSE:BA)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They currently have a $200.00 target price on the aircraft producer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 29.06% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. UBS Group dropped their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $191.79.

Boeing Price Performance

NYSE BA opened at $154.97 on Thursday. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54. The company has a market capitalization of $95.13 billion, a price-to-earnings ratio of -43.93 and a beta of 1.57. The company’s fifty day moving average price is $160.18 and its two-hundred day moving average price is $171.89.

Boeing (NYSE:BA) last posted 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the business earned ($3.26) EPS. Boeing’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that Boeing will post -5.35 EPS for the current year.

Hedge Funds Weigh In On Boeing

Several large investors have recently made changes to their positions in the business. Financial Advocates Investment Management boosted its position in shares of Boeing by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 30,067 shares of the aircraft producer’s stock valued at $4,571,000 after purchasing an additional 1,184 shares in the last quarter. Solidarity Wealth LLC boosted its holdings in shares of Boeing by 20.0% in the third quarter. Solidarity Wealth LLC now owns 1,530 shares of the aircraft producer’s stock worth $233,000 after buying an additional 255 shares during the period. Cornerstone Wealth Group LLC acquired a new position in shares of Boeing in the third quarter worth about $200,000. Tandem Capital Management Corp ADV boosted its holdings in shares of Boeing by 7.7% in the third quarter. Tandem Capital Management Corp ADV now owns 8,364 shares of the aircraft producer’s stock worth $1,272,000 after buying an additional 595 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Boeing by 84.6% in the third quarter. JFS Wealth Advisors LLC now owns 3,920 shares of the aircraft producer’s stock worth $596,000 after buying an additional 1,797 shares during the period. Institutional investors 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.