Boeing’s (BA) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research note released on Thursday, Benzinga reports. They currently have a $250.00 price target on the aircraft producer’s stock.

A number of other research analysts have also recently weighed in on 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. Robert W. Baird cut their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday. 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. Finally, The Goldman Sachs Group lowered their target price 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Stock Performance

Shares of BA opened at $155.01 on Thursday. The company’s fifty day moving average is $159.68 and its 200 day moving average is $171.66. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The stock has a market capitalization of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57.

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 the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Boeing by 2.5% during the first 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 in the last quarter. Newport Trust Company LLC increased its holdings in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Boeing by 1.4% in 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 buying an additional 106,513 shares during the period. Jennison Associates LLC increased its holdings in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the period. Finally, Legal & General Group Plc increased its holdings in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the period. 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.