Boeing (NYSE:BA) Given “Outperform” Rating at Royal Bank of Canada

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

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. 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, October 24th. Finally, Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Performance

NYSE BA opened at $154.24 on Wednesday. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The stock has a market cap of $94.69 billion, a PE ratio of -43.45 and a beta of 1.57. The firm has a 50-day simple moving average of $158.34 and a 200 day simple moving average of $171.24.

Boeing (NYSE:BA) last announced 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 business had revenue of $17.84 billion during 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 for the quarter was down 1.5% on a year-over-year basis. Research analysts forecast that Boeing will post -5.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during 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 purchasing an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Wulff Hansen & CO. increased its stake in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Boeing by 14.1% during the first 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 during the period. Institutional investors own 64.82% of the company’s stock.

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.