JPMorgan Chase & Co. reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research report sent to investors on Wednesday.
Other equities research analysts have also recently issued research reports about the stock. Bank of America restated a buy rating and issued a $470.00 target price (up previously from $395.00) on shares of Boeing in a report on Thursday, February 1st. Canaccord Genuity raised 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. Societe Generale set a $373.00 target price on shares of Boeing and gave the stock a neutral rating in a report on Thursday, February 1st. Credit Suisse Group set a $443.00 price target on shares of Boeing and gave the stock an outperform rating in a research note on Thursday, February 1st. Finally, Sanford C. Bernstein lifted their price target on shares of Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $358.47.
Shares of Boeing (NYSE:BA) opened at $330.26 on Wednesday. Boeing has a fifty-two week low of $173.75 and a fifty-two week high of $371.60. The company has a debt-to-equity ratio of 23.74, a current ratio of 1.16 and a quick ratio of 0.37. The stock has a market cap of $194,350.00, a P/E ratio of 28.16, a P/E/G ratio of 1.75 and a beta of 1.37.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The company had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter last year, the company posted $2.47 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. analysts expect that Boeing will post 14.05 EPS for the current fiscal year.
Boeing announced that its Board of Directors has approved a stock buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its holdings in Boeing by 8.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 68,746 shares of the aircraft producer’s stock valued at $20,274,000 after acquiring an additional 5,301 shares during the last quarter. Fairfield Bush & CO. bought a new stake in Boeing in the 4th quarter valued at $289,000. D.B. Root & Company LLC bought a new stake in Boeing in the 4th quarter valued at $1,455,000. Cable Hill Partners LLC increased its holdings in Boeing by 9.4% in the 4th quarter. Cable Hill Partners LLC now owns 1,754 shares of the aircraft producer’s stock valued at $520,000 after acquiring an additional 151 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Boeing by 3.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,711 shares of the aircraft producer’s stock valued at $1,684,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 76.55% 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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