Boeing’s (BA) “Buy” Rating Reaffirmed at Jefferies Group
Boeing Co. (NYSE:BA)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Saturday. They currently have a $165.00 price target on the aircraft producer’s stock. Jefferies Group’s price objective suggests a potential upside of 23.27% from the stock’s current price.
A number of other research analysts have also recently commented on BA. Citigroup Inc. lowered their target price on Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, September 19th. Goldman Sachs Group Inc. set a $107.00 target price on Boeing and gave the company a “sell” rating in a research note on Tuesday, August 30th. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research note on Wednesday, September 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $145.00 target price on shares of Boeing in a research note on Sunday, July 31st. Finally, Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $133.41 target price for the company in a research note on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Boeing currently has a consensus rating of “Hold” and a consensus price target of $147.94.
Shares of Boeing (NYSE:BA) opened at 133.85 on Friday. Boeing has a 52 week low of $102.10 and a 52 week high of $150.59. The stock has a 50 day moving average price of $131.38 and a 200-day moving average price of $131.14. The company has a market capitalization of $83.50 billion, a PE ratio of 24.10 and a beta of 1.03.
Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same quarter last year, the business posted $1.62 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Boeing will post $6.29 EPS for the current year.
In related news, Director Randall L. Stephenson acquired 1,871 shares of Boeing stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of BA. Brick & Kyle Associates boosted its stake in shares of Boeing by 4.8% in the first quarter. Brick & Kyle Associates now owns 3,270 shares of the aircraft producer’s stock valued at $415,000 after buying an additional 150 shares during the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of Boeing by 433.9% in the first quarter. Bowling Portfolio Management LLC now owns 60,234 shares of the aircraft producer’s stock valued at $7,646,000 after buying an additional 48,953 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Boeing by 0.6% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 30,431 shares of the aircraft producer’s stock valued at $3,862,000 after buying an additional 179 shares during the last quarter. Hyman Charles D bought a new stake in shares of Boeing during the first quarter valued at $12,181,000. Finally, Northern Oak Wealth Management Inc. boosted its stake in shares of Boeing by 5.7% in the first quarter. Northern Oak Wealth Management Inc. now owns 50,427 shares of the aircraft producer’s stock valued at $6,401,000 after buying an additional 2,713 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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