Boeing (NYSE:BA) Earns “Outperform” Rating from Royal Bank of Canada

Boeing (NYSE:BA)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $200.00 price target on the aircraft producer’s stock. Royal Bank of Canada’s target price indicates a potential upside of 29.54% from the stock’s current price.

A number of other research firms also recently commented on BA. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Price Performance

BA stock traded down $2.67 during midday trading on Thursday, reaching $154.39. The company had a trading volume of 6,305,192 shares, compared to its average volume of 8,111,818. The company has a market capitalization of $94.78 billion, a price-to-earnings ratio of -43.49 and a beta of 1.57. The stock has a 50 day moving average price of $160.61 and a 200-day moving average price of $172.01. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($4.85) by ($5.59). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.26) earnings per share. As a group, research analysts anticipate that Boeing will post -5.35 earnings per share for the current year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC increased its position in Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC boosted its holdings in shares of Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after buying an additional 61 shares in the last quarter. IMS Capital Management boosted its holdings in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Boeing by 0.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.