Boeing’s (BA) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Boeing (NYSE:BA)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $200.00 target price on the aircraft producer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 15.51% from the company’s current price.

BA has been the subject of several other reports. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Susquehanna raised their target price on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday. Two equities 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 stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $194.47.

Boeing Stock Down 2.6 %

Shares of BA stock traded down $4.64 on Wednesday, reaching $173.14. The stock had a trading volume of 7,521,208 shares, compared to its average volume of 8,720,212. Boeing has a 12 month low of $137.03 and a 12 month high of $214.63. The firm’s 50-day moving average is $167.68 and its two-hundred day moving average is $164.19. The firm has a market capitalization of $107.04 billion, a price-to-earnings ratio of -13.40 and a beta of 1.52.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the business earned ($0.47) earnings per share. On average, sell-side analysts forecast that Boeing will post -16.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently bought and sold shares of BA. Cigna Investments Inc. New grew its stake in shares of Boeing by 21.4% in the fourth quarter. Cigna Investments Inc. New now owns 7,272 shares of the aircraft producer’s stock worth $1,287,000 after purchasing an additional 1,280 shares during the last quarter. Sovran Advisors LLC purchased a new stake in Boeing in the 4th quarter worth approximately $775,000. Stonebridge Financial Group LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $203,000. Essex Financial Services Inc. increased its stake in shares of Boeing by 3.5% during the fourth quarter. Essex Financial Services Inc. now owns 6,817 shares of the aircraft producer’s stock valued at $1,207,000 after buying an additional 229 shares during the period. Finally, Violich Capital Management Inc. purchased a new stake in Boeing in the fourth quarter worth $220,000. 64.82% of the stock is currently owned by 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.