The Boeing Company (NYSE:BA) Receives Consensus Rating of “Moderate Buy” from Brokerages

The Boeing Company (NYSE:BA) has earned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $190.11.

BA has been the topic of several recent analyst reports. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup reduced their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Newport Trust Company LLC raised its position in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp raised its holdings in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC lifted its stake in Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $177.35 on Friday. The stock has a market cap of $109.64 billion, a PE ratio of -13.75 and a beta of 1.56. Boeing has a 1 year low of $137.03 and a 1 year high of $267.54. The firm has a fifty day moving average price of $155.10 and a 200-day moving average price of $166.06.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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 analyst estimates of $17.81 billion. During the same period in the previous year, the firm earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that Boeing will post -16.18 EPS for the current year.

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.