Stifel Nicolaus Reaffirms “Buy” Rating for Boeing (NYSE:BA)

Stifel Nicolaus reissued their buy rating on shares of Boeing (NYSE:BA) in a report issued on Monday morning, Benzinga reports. Stifel Nicolaus currently has a $270.00 target price on the aircraft producer’s stock.

Several other research analysts have also weighed in on the company. TD Cowen lowered their price objective on Boeing from $275.00 to $230.00 and set an outperform rating for the company in a research report on Monday. Bank of America lowered their price target on Boeing from $225.00 to $210.00 and set a neutral rating for the company in a research report on Thursday, March 21st. Northcoast Research lowered Boeing from a buy rating to a neutral rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered their price target on Boeing from $270.00 to $230.00 and set an overweight rating for the company in a research report on Monday. Finally, Royal Bank of Canada lowered their price target on Boeing from $285.00 to $260.00 and set an outperform rating for the company in a research report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $241.53.

Boeing Stock Performance

NYSE:BA opened at $192.83 on Monday. Boeing has a one year low of $176.25 and a one year high of $267.54. The stock has a market cap of $117.65 billion, a PE ratio of -52.40, a P/E/G ratio of 30.31 and a beta of 1.52. The stock has a 50 day moving average price of $200.59 and a 200 day moving average price of $209.84.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.75) earnings per share. As a group, analysts predict that Boeing will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently added to or reduced their stakes in BA. Moneta Group Investment Advisors LLC boosted its holdings in Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after purchasing an additional 16,041,103 shares in the last quarter. Capital Research Global Investors boosted its holdings in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Jennison Associates LLC purchased a new stake in Boeing in the 4th quarter valued at approximately $960,397,000. Wellington Management Group LLP boosted its holdings in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. 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.