Boeing (NYSE:BA)‘s stock had its “buy” rating restated by research analysts at JPMorgan Chase & Co. in a report issued on Wednesday.
Other equities research analysts have also issued reports about the stock. Bank of America reaffirmed a “buy” rating and set a $470.00 price target (up from $395.00) on shares of Boeing in a report on Thursday, February 1st. Canaccord Genuity lifted their price target on shares of Boeing from $290.00 to $345.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Societe Generale set a $373.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Credit Suisse Group set a $443.00 target price on shares of Boeing and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Sanford C. Bernstein lifted their target price on shares of Boeing from $402.00 to $422.00 in a research report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Boeing presently has an average rating of “Buy” and an average price target of $358.47.
Shares of Boeing (NYSE BA) traded down $8.41 during trading on Wednesday, hitting $330.26. 13,052,013 shares of the company traded hands, compared to its average volume of 6,221,623. The company has a market cap of $194,350.00, a price-to-earnings ratio of 28.16, a PEG ratio of 1.78 and a beta of 1.37. 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 has a 12 month low of $173.75 and a 12 month high of $371.60.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $1.89. The company had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. equities research analysts predict that Boeing will post 14.05 EPS for the current year.
Boeing announced that its board has initiated a stock buyback program on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BA. Lipe & Dalton bought a new stake in shares of Boeing in the 3rd quarter worth $100,000. Burt Wealth Advisors bought a new position in Boeing during the third quarter valued at about $100,000. Stonehearth Capital Management LLC bought a new position in Boeing during the fourth quarter valued at about $105,000. Solaris Asset Management LLC bought a new position in Boeing during the fourth quarter valued at about $111,000. Finally, Clear Perspective Advisors LLC grew its position in Boeing by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.
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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