Jefferies Group Reaffirms “Buy” Rating for Boeing Co. (BA)
Boeing Co. (NYSE:BA)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a research note issued to investors on Saturday. They presently have a $165.00 price target on the aircraft producer’s stock. Jefferies Group’s target price points to a potential upside of 23.27% from the stock’s current price.
A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group Inc. set a $107.00 price target on shares of Boeing and gave the stock a “sell” rating in a report on Tuesday, August 30th. Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 price target on the stock. in a report on Wednesday, August 24th. JPMorgan Chase & Co. set a $140.00 price target on shares of Boeing and gave the stock a “neutral” rating in a report on Monday, July 4th. Citigroup Inc. cut their price target on shares of Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, September 19th. Finally, Morgan Stanley started coverage on shares of Boeing in a report on Thursday, June 23rd. They issued an “overweight” rating and a $153.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Boeing presently has a consensus rating of “Hold” and a consensus price target of $147.94.
Boeing (NYSE:BA) opened at 133.85 on Friday. The firm has a 50-day moving average of $131.38 and a 200 day moving average of $131.14. Boeing has a 12-month low of $102.10 and a 12-month high of $150.59. The company has a market capitalization of $83.50 billion, a price-to-earnings ratio of 24.10 and a beta of 1.03.
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Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. The company had revenue of $24.80 million for 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 firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 EPS. Analysts expect that Boeing will post $6.29 EPS for the current fiscal year.
In other news, Director Randall L. Stephenson acquired 1,871 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was acquired at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction 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 institutional investors have recently bought and sold shares of BA. Nelson Roberts Investment Advisors LLC increased its position in Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock worth $122,000 after buying an additional 180 shares during the period. Van Hulzen Asset Management LLC increased its position in Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock worth $130,000 after buying an additional 100 shares during the period. Cascade Investment Advisors Inc. purchased a new position in Boeing during the second quarter worth about $136,000. SevenBridge Financial Group LLC purchased a new position in Boeing during the second quarter worth about $142,000. Finally, Kelly Lawrence W & Associates Inc. CA increased its position in Boeing by 25.5% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,155 shares of the aircraft producer’s stock worth $150,000 after buying an additional 235 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.
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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