Boeing Co (BA) Given Consensus Recommendation of “Buy” by Brokerages

Boeing Co (NYSE:BA) has earned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $401.94.

Several brokerages have recently issued reports on BA. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research note on Thursday, July 26th. UBS Group lifted their price objective on Boeing from $325.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Cowen reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a research note on Wednesday, July 25th. Finally, Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $393.00 price objective for the company in a research note on Monday, July 16th.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in shares of Boeing by 16.0% in the 2nd quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock valued at $2,488,029,000 after purchasing an additional 1,023,959 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Boeing by 23.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after purchasing an additional 1,121,675 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Boeing by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,158,335 shares of the aircraft producer’s stock valued at $1,730,674,000 after purchasing an additional 227,374 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of Boeing by 33,457.1% in the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock valued at $3,701,000 after purchasing an additional 3,689,648 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Boeing by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 2,898,444 shares of the aircraft producer’s stock valued at $972,457,000 after purchasing an additional 56,375 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

Boeing stock traded up $2.36 during midday trading on Friday, reaching $367.39. 2,356,100 shares of the stock traded hands, compared to its average volume of 4,485,956. Boeing has a 12-month low of $251.17 and a 12-month high of $374.48. The stock has a market capitalization of $210.98 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of -7.65, a current ratio of 1.11 and a quick ratio of 0.32.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The firm had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.55 earnings per share. equities research analysts anticipate that Boeing will post 14.6 earnings per share for the current year.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Analyst Recommendations for Boeing (NYSE:BA)

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