Boeing (NYSE:BA)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a report issued on Friday, Marketbeat reports. They presently have a $373.00 target price on the aircraft producer’s stock, up from their previous target price of $340.00. Morgan Stanley’s price target would indicate a potential upside of 2.89% from the company’s current price.
Several other brokerages also recently weighed in on BA. Canaccord Genuity upped their target price on shares of Boeing from $290.00 to $345.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $365.00 target price (up previously from $330.00) on shares of Boeing in a report on Thursday, February 1st. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada set a $363.00 price objective on shares of Boeing and gave the company a “neutral” rating in a report on Wednesday, January 31st. Finally, Cowen reissued a “buy” rating and set a $415.00 price objective on shares of Boeing in a report on Wednesday, January 31st. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $357.77.
Shares of Boeing (NYSE:BA) traded up $5.88 during trading on Friday, reaching $362.54. 2,699,965 shares of the company traded hands, compared to its average volume of 6,061,017. The company has a market cap of $216,090.00, a P/E ratio of 30.93, a P/E/G ratio of 1.86 and a beta of 1.44. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. Boeing has a one year low of $173.75 and a one year high of $363.98.
Boeing declared that its Board of Directors has approved a share buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Stonehearth Capital Management LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $105,000. Solaris Asset Management LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $111,000. Lipe & Dalton purchased a new position in shares of Boeing during the third quarter worth approximately $100,000. Burt Wealth Advisors purchased a new position in shares of Boeing during the third quarter worth approximately $100,000. Finally, Welch Group LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $120,000. 70.88% of the stock is currently owned by institutional investors.
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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