Barclays reiterated their buy rating on shares of Boeing (NYSE:BA) in a research note released on Wednesday morning. The firm currently has a $388.00 price objective on the aircraft producer’s stock.
Several other research firms have also issued reports on BA. Morgan Stanley set a $373.00 price target on shares of Boeing and gave the company a hold rating in a research report on Thursday, March 22nd. Buckingham Research set a $289.00 price target on shares of Boeing and gave the company a hold rating in a research report on Thursday, February 8th. Zacks Investment Research upgraded shares of Boeing from a hold rating to a buy rating and set a $330.00 price target for the company in a research report on Tuesday, January 2nd. Canaccord Genuity restated a hold rating and set a $345.00 price target (up from $290.00) on shares of Boeing in a research report on Thursday, February 1st. Finally, Robert W. Baird set a $433.00 price target on shares of Boeing and gave the company a buy rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $365.19.
NYSE BA opened at $326.12 on Wednesday. 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 $175.47 and a 12-month high of $371.60. The stock has a market cap of $197,968.13, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.
Boeing (NYSE:BA) last posted 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. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business had revenue of $25.37 billion during the quarter, compared to analyst estimates of $24.78 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. sell-side analysts predict that Boeing will post 14.05 earnings per share for the current fiscal year.
Boeing declared that its board has initiated a share buyback program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in BA. Stonehearth Capital Management LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $105,000. Solaris Asset Management LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $111,000. Lipe & Dalton bought a new position in shares of Boeing during the third quarter valued at approximately $100,000. Burt Wealth Advisors bought a new position in shares of Boeing during the third quarter valued at approximately $100,000. Finally, Welch Group LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $120,000. 70.76% of the stock is owned by institutional investors.
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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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