Boeing (NYSE:BA) Price Target Cut to $215.00

Boeing (NYSE:BA) had its target price reduced by equities research analysts at Royal Bank of Canada from $225.00 to $215.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the aircraft producer’s stock. Royal Bank of Canada’s target price indicates a potential upside of 26.33% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. UBS Group decreased their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Melius Research restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Bank of America reduced their target price on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Morgan Stanley reduced their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.35.

Boeing Trading Down 0.2 %

Boeing stock opened at $170.19 on Tuesday. Boeing has a 1-year low of $167.53 and a 1-year high of $267.54. The firm has a market capitalization of $103.84 billion, a price-to-earnings ratio of -46.25, a price-to-earnings-growth ratio of 114.53 and a beta of 1.52. The firm’s fifty day moving average price is $191.86 and its two-hundred day moving average price is $207.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the business posted ($1.75) EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that Boeing will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently bought and sold shares of BA. United Bank lifted its position in Boeing by 4.7% during the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after purchasing an additional 226 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Boeing by 1,064.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after purchasing an additional 777 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Boeing by 68.0% during the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after purchasing an additional 2,879 shares during the last quarter. Prudential PLC bought a new stake in shares of Boeing in the 1st quarter worth approximately $836,000. Finally, Dakota Wealth Management lifted its holdings in shares of Boeing by 26.7% in the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after acquiring an additional 448 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.