JPMorgan Chase & Co. Issues Positive Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its target price hoisted by JPMorgan Chase & Co. from $190.00 to $200.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the aircraft producer’s stock.

A number of other equities analysts also recently commented on BA. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Boeing Stock Performance

NYSE BA opened at $174.03 on Wednesday. The company’s 50-day simple moving average is $167.68 and its two-hundred day simple moving average is $164.19. Boeing has a one year low of $137.03 and a one year high of $214.63. The company has a market capitalization of $107.58 billion, a price-to-earnings ratio of -13.49 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the company earned ($0.47) EPS. Equities analysts expect that Boeing will post -16.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing in the 4th quarter valued at about $27,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the fourth quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth approximately $33,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of Boeing during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

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.