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

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

Several other research firms have also recently commented on BA. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Morgan Stanley cut their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Price Performance

Shares of NYSE BA opened at $155.01 on Thursday. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54. The business has a 50-day moving average of $159.68 and a 200-day moving average of $171.66. The company has a market capitalization of $95.16 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last issued its 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. grew its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing in the 2nd quarter worth approximately $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.