Boeing’s (BA) “Buy” Rating Reaffirmed at Jefferies Group
Boeing Co. (NYSE:BA)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research report issued on Saturday. They currently have a $165.00 price objective on the aircraft producer’s stock. Jefferies Group’s target price suggests a potential upside of 23.27% from the company’s previous close.
Several other equities analysts also recently commented on BA. Vetr upgraded shares of Boeing from a “sell” rating to a “hold” rating and set a $127.88 price target for the company in a research note on Monday, June 13th. Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price objective on shares of Boeing in a research report on Monday, June 20th. Morgan Stanley assumed coverage on shares of Boeing in a research note on Thursday, June 23rd. They set an “overweight” rating and a $153.00 target price for the company. JPMorgan Chase & Co. set a $140.00 target price on shares of Boeing and gave the stock a “neutral” rating in a research note on Monday, July 4th. Finally, Bank of America Corp. reiterated an “underperform” rating and set a $125.00 target price on shares of Boeing in a research note on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. Boeing currently has an average rating of “Hold” and a consensus target price of $147.94.
Shares of Boeing (NYSE:BA) opened at 133.85 on Friday. Boeing has a 12 month low of $102.10 and a 12 month high of $150.59. The firm’s 50-day moving average price is $131.38 and its 200 day moving average price is $131.14. The firm has a market capitalization of $83.50 billion, a P/E ratio of 24.10 and a beta of 1.03.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/boeings-ba-buy-rating-reaffirmed-at-jefferies-group-2.html
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. The business earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Analysts anticipate that Boeing will post $6.29 earnings per share for the current fiscal year.
In other news, Director Randall L. Stephenson bought 1,871 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the completion of the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Diana L. Sands sold 14,151 shares of the firm’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 transaction of $1,882,932.06. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. raised its stake in shares of Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock worth $144,633,000 after buying an additional 215,276 shares during the period. Rothschild Investment Corp IL raised its stake in shares of Boeing by 2.6% in the second quarter. Rothschild Investment Corp IL now owns 90,321 shares of the aircraft producer’s stock worth $11,730,000 after buying an additional 2,250 shares during the period. First Quadrant L P CA raised its stake in shares of Boeing by 991.8% in the second quarter. First Quadrant L P CA now owns 133,200 shares of the aircraft producer’s stock worth $17,299,000 after buying an additional 121,000 shares during the period. Heritage Investors Management Corp raised its stake in shares of Boeing by 5.2% in the second quarter. Heritage Investors Management Corp now owns 115,504 shares of the aircraft producer’s stock worth $15,001,000 after buying an additional 5,659 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of Boeing during the first quarter worth about $38,707,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
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.
Receive News & Ratings for Boeing Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing Co. and related companies with MarketBeat.com's FREE daily email newsletter.