Boeing (NYSE:BA) PT Lowered to $215.00

Boeing (NYSE:BA) had its target price reduced by equities researchers at Royal Bank of Canada from $225.00 to $215.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the aircraft producer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 27.07% from the company’s previous close.

Several other research firms also recently issued reports on BA. Morgan Stanley decreased their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Sanford C. Bernstein reduced their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday. Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Finally, Northcoast Research cut shares of Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $233.88.

Boeing Stock Up 0.8 %

Shares of NYSE BA traded up $1.38 during midday trading on Tuesday, hitting $169.20. The company had a trading volume of 1,202,173 shares, compared to its average volume of 9,757,332. The firm has a market capitalization of $103.24 billion, a price-to-earnings ratio of -45.76, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52. The business has a 50-day simple moving average of $193.45 and a two-hundred day simple moving average of $207.95. Boeing has a twelve month low of $167.53 and a twelve month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) EPS. On average, equities analysts forecast that Boeing will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BA. Trust Co. of Vermont grew its position in Boeing by 1.0% in the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC grew its position in Boeing by 2.7% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after acquiring an additional 47 shares in the last quarter. Waverly Advisors LLC grew its position in Boeing by 0.6% in the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after acquiring an additional 49 shares in the last quarter. WealthPlan Investment Management LLC grew its position in Boeing by 1.0% in the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after acquiring an additional 49 shares in the last quarter. Finally, RB Capital Management LLC boosted its position in Boeing by 2.7% during the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after buying an additional 50 shares during the period. 64.82% of the stock is 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.