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

Boeing (NYSE:BA)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They presently have a $200.00 price target on the aircraft producer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 27.84% from the stock’s current price.

A number of other analysts have also recently commented on BA. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup cut their price objective 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. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group cut their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Robert W. Baird lowered their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $190.42.

Boeing Stock Up 2.3 %

Shares of Boeing stock traded up $3.46 on Wednesday, hitting $156.44. The stock had a trading volume of 15,654,812 shares, compared to its average volume of 8,494,130. The stock’s 50-day simple moving average is $158.72 and its two-hundred day simple moving average is $171.36. Boeing has a one year low of $146.02 and a one year high of $267.54. The stock has a market cap of $96.04 billion, a price-to-earnings ratio of -43.70 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company posted ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

Large investors have recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. raised its position in shares of 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 acquiring an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter valued at about $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.