Boeing (NYSE:BA) Earns Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $250.00 price objective on the aircraft producer’s stock.

Other analysts also recently issued reports about the stock. 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 research report on Friday, October 18th. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Sanford C. Bernstein cut their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Company cut their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.79.

Boeing Trading Down 0.1 %

Shares of NYSE BA opened at $155.01 on Thursday. The firm has a fifty day simple moving average of $159.68 and a two-hundred day simple moving average of $171.66. The firm has a market capitalization of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its 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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.26) earnings per share. On average, sell-side analysts predict that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. raised its position in shares of Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after buying an additional 8,309 shares during the last quarter. Czech National Bank raised its position in shares of Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of Boeing during the third quarter valued at approximately $11,237,000. Sanctuary Advisors LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $21,405,000. Finally, Williams Financial LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $1,637,000. Hedge funds and other 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.