Royal Bank of Canada Reaffirms “Outperform” Rating for Boeing (NYSE:BA)

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

Several other equities analysts have also weighed in on BA. Susquehanna lifted their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday. Citigroup reduced their target price on Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued 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 target price of $195.00.

Boeing Trading Down 1.8 %

Shares of NYSE:BA opened at $176.26 on Wednesday. Boeing has a 12-month low of $137.03 and a 12-month high of $214.63. The business has a 50 day moving average of $168.96 and a two-hundred day moving average of $164.37. The company has a market capitalization of $108.96 billion, a PE ratio of -9.62 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the firm earned ($0.47) EPS. Equities research analysts predict that Boeing will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Several hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the period. Geode Capital Management LLC grew its holdings in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after purchasing an additional 320,415 shares during the period. Jennison Associates LLC raised its holdings in Boeing by 9.9% in 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 buying an additional 602,143 shares during the period. Fisher Asset Management LLC lifted its position in Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Boeing by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after buying an additional 48,637 shares during the period. Hedge funds and other 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.