Boeing (BA) Given a $320.00 Price Target by Bank of America Analysts
Boeing (NYSE:BA) has been given a $320.00 price objective by stock analysts at Bank of America in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Bank of America’s price objective suggests a potential upside of 10.37% from the stock’s previous close.
Several other research analysts also recently commented on BA. Wells Fargo & Company reissued a “market perform” rating and set a $290.00 price target (up from $270.00) on shares of Boeing in a research note on Tuesday. Vetr downgraded shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $266.88 target price on the stock. in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $303.00 target price (up from $274.00) on shares of Boeing in a research note on Wednesday, September 20th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Boeing presently has a consensus rating of “Buy” and an average price target of $266.73.
Shares of Boeing (NYSE:BA) traded up $6.78 on Tuesday, reaching $289.94. 5,344,961 shares of the company were exchanged, compared to its average volume of 3,281,721. The stock has a market capitalization of $170,275.89, a P/E ratio of 29.32, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing has a 1-year low of $153.06 and a 1-year high of $287.32.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $3.51 earnings per share. research analysts anticipate that Boeing will post 10.1 EPS for the current year.
Boeing announced that its Board of Directors has approved a share buyback plan on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the company. Riverpoint Wealth Management Holdings LLC raised its position in Boeing by 0.3% in the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock worth $293,000 after buying an additional 4 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Boeing by 0.3% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock worth $421,000 after buying an additional 6 shares during the last quarter. Accredited Investors Inc. raised its position in Boeing by 0.4% in the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock worth $325,000 after buying an additional 6 shares during the last quarter. GWM Advisors LLC raised its position in Boeing by 0.6% in the 1st quarter. GWM Advisors LLC now owns 1,324 shares of the aircraft producer’s stock worth $233,000 after buying an additional 8 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its position in Boeing by 0.7% in the 2nd quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock worth $245,000 after buying an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.