Boeing (NYSE:BA)‘s stock had its “buy” rating reiterated by analysts at Cowen in a report issued on Monday. They currently have a $320.00 target price on the aircraft producer’s stock. Cowen’s target price would suggest a potential upside of 13.01% from the stock’s current price.
Several other analysts have also recently weighed in on BA. Bank of America set a $320.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company reaffirmed a “market perform” rating and set a $290.00 price objective (up from $270.00) on shares of Boeing in a research report on Tuesday. Vetr cut Boeing from a “strong-buy” rating to a “buy” rating and set a $266.88 price objective on the stock. in a research report on Wednesday, August 16th. J P Morgan Chase & Co set a $325.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Boeing has an average rating of “Buy” and a consensus target price of $266.73.
Boeing (NYSE:BA) traded down $2.74 during midday trading on Monday, hitting $283.16. The company had a trading volume of 4,065,200 shares, compared to its average volume of 3,281,721. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. The company has a market capitalization of $170,275.89, a PE ratio of 29.32, a PEG ratio of 2.18 and a beta of 1.24. Boeing has a 12 month low of $153.06 and a 12 month high of $287.32.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. The company had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. Boeing’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $3.51 earnings per share. equities analysts anticipate that Boeing will post 10.1 EPS for the current year.
Boeing declared that its Board of Directors has authorized a share repurchase program on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after buying an additional 4,852,679 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in Boeing by 18,613.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,342,129 shares of the aircraft producer’s stock valued at $6,787,000 after buying an additional 1,334,957 shares during the last quarter. Jennison Associates LLC raised its stake in Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after buying an additional 1,160,859 shares during the last quarter. AQR Capital Management LLC raised its stake in Boeing by 66.5% during the 1st quarter. AQR Capital Management LLC now owns 2,627,684 shares of the aircraft producer’s stock valued at $464,732,000 after buying an additional 1,049,546 shares during the last quarter. Finally, Koch Industries Inc. raised its stake in Boeing by 61,128.7% during the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after buying an additional 848,467 shares during the last quarter. Institutional investors own 70.97% of the company’s stock.
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Boeing Company Profile
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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