Boeing (NYSE:BA) was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada set a $290.00 price target on Boeing and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group restated a “buy” rating and issued a $339.00 price target on shares of Boeing in a research note on Monday, January 8th. JPMorgan Chase & Co. set a $325.00 price target on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Buckingham Research set a $203.00 price target on Boeing and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, ValuEngine cut Boeing from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $353.24.
Boeing (BA) opened at $344.85 on Tuesday. The stock has a market capitalization of $205,390.00, a price-to-earnings ratio of 29.40, a PEG ratio of 1.88 and a beta of 1.44. Boeing has a 52 week low of $168.35 and a 52 week high of $361.45. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. The firm had revenue of $25.37 billion for the quarter, compared to the consensus estimate of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $2.47 EPS. research analysts predict that Boeing will post 14.03 earnings per share for the current year.
Boeing announced that its board has approved a share buyback plan on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Zeke Capital Advisors LLC grew its position in shares of Boeing by 9.3% during the fourth quarter. Zeke Capital Advisors LLC now owns 11,879 shares of the aircraft producer’s stock valued at $3,503,000 after purchasing an additional 1,013 shares in the last quarter. LPL Financial LLC grew its position in shares of Boeing by 15.0% during the fourth quarter. LPL Financial LLC now owns 386,087 shares of the aircraft producer’s stock valued at $113,861,000 after purchasing an additional 50,243 shares in the last quarter. DSC Advisors L.P. purchased a new position in shares of Boeing during the fourth quarter valued at about $231,000. Sciencast Management LP purchased a new position in shares of Boeing during the fourth quarter valued at about $1,346,000. Finally, Flinton Capital Management LLC grew its position in shares of Boeing by 9.5% during the fourth quarter. Flinton Capital Management LLC now owns 68,096 shares of the aircraft producer’s stock valued at $20,082,000 after purchasing an additional 5,936 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
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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