Boeing (NYSE:BA)‘s stock had its “buy” rating reissued by analysts at JPMorgan Chase in a report issued on Friday. They currently have a $400.00 price objective on the aircraft producer’s stock. JPMorgan Chase’s target price indicates a potential upside of 21.48% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. Vetr cut shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 target price for the company. in a report on Tuesday, April 10th. Cowen reaffirmed a “buy” rating and issued a $415.00 target price on shares of Boeing in a report on Tuesday, April 10th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $358.00 target price (down from $378.00) on shares of Boeing in a report on Friday, April 6th. Morgan Stanley reissued a “hold” rating and set a $373.00 price objective on shares of Boeing in a report on Thursday, April 5th. Finally, Barclays reissued a “buy” rating and set a $388.00 price objective on shares of Boeing in a report on Wednesday, April 4th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Boeing has an average rating of “Buy” and an average target price of $364.47.
Shares of Boeing stock opened at $329.28 on Friday. 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 capitalization of $198,603.72, a price-to-earnings ratio of 27.35, a PEG ratio of 1.75 and a beta of 1.39. Boeing has a 52-week low of $175.47 and a 52-week high of $371.60.
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 consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. research analysts predict that Boeing will post 14.05 EPS for the current year.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Beach Investment Management LLC. bought a new position in shares of Boeing in the second quarter worth approximately $429,000. Hanseatic Management Services Inc. bought a new position in shares of Boeing in the second quarter worth approximately $637,000. Old West Investment Management LLC bought a new position in shares of Boeing in the second quarter worth approximately $254,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Boeing by 0.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 27,409 shares of the aircraft producer’s stock worth $5,420,000 after purchasing an additional 100 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Boeing by 5.0% in the second quarter. Suntrust Banks Inc. now owns 109,641 shares of the aircraft producer’s stock worth $21,679,000 after purchasing an additional 5,219 shares during the period. 70.84% of the stock is owned by institutional investors and hedge funds.
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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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