Boeing’s (BA) Outperform Rating Reaffirmed at Robert W. Baird
Boeing (NYSE:BA)‘s stock had its “outperform” rating reissued by research analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $433.00 target price on the aircraft producer’s stock, up from their previous target price of $380.00. Robert W. Baird’s price target points to a potential upside of 28.79% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities research analysts also recently commented on the company. Royal Bank of Canada set a $290.00 price objective on Boeing and gave the company a “hold” rating in a report on Wednesday, November 15th. Jefferies Group boosted their target price on Boeing from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. JPMorgan Chase & Co. set a $325.00 target price on Boeing and gave the company a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a research note on Tuesday, October 10th. Finally, ValuEngine cut Boeing from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $297.58.
Shares of Boeing (NYSE:BA) opened at $336.21 on Tuesday. The firm has a market capitalization of $200,240.00, a price-to-earnings ratio of 30.93, a PEG ratio of 2.28 and a beta of 1.23. Boeing has a 52-week low of $156.75 and a 52-week high of $336.88. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18.
Boeing announced that its board has initiated a stock repurchase program on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stonehearth Capital Management LLC bought a new stake in Boeing in the fourth quarter valued at approximately $105,000. Lipe & Dalton bought a new stake in Boeing in the third quarter valued at approximately $100,000. Burt Wealth Advisors bought a new stake in Boeing in the third quarter valued at approximately $100,000. Clear Perspective Advisors LLC raised its stake in Boeing by 31.0% in the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after buying an additional 135 shares during the period. Finally, CWH Capital Management Inc. bought a new stake in Boeing in the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 70.87% of the company’s stock.
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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.
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