Goldman Sachs Group Reiterates “$293.00” Price Target for Boeing (BA)

Boeing (NYSE:BA) received a $293.00 price objective from equities research analysts at Goldman Sachs Group in a report released on Wednesday. The firm presently has a “neutral” rating on the aircraft producer’s stock. Goldman Sachs Group’s price target indicates a potential downside of 17.66% from the stock’s previous close.

BA has been the topic of a number of other reports. Vetr upgraded Boeing from a “sell” rating to a “hold” rating and set a $288.75 price target on the stock in a report on Monday, December 11th. Berenberg Bank set a $395.00 price objective on Boeing and gave the company a “buy” rating in a research note on Monday. Cowen reissued a “buy” rating and set a $315.00 price objective on shares of Boeing in a research note on Thursday, October 26th. Buckingham Research reaffirmed a “hold” rating and set a $203.00 price target on shares of Boeing in a research note on Friday, December 22nd. Finally, Nord/LB set a $250.00 price target on Boeing and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $319.19.

Shares of Boeing (NYSE BA) traded up $18.12 during trading on Wednesday, reaching $355.83. The company had a trading volume of 6,874,021 shares, compared to its average volume of 5,771,377. The company has a market capitalization of $212,680.00, a price-to-earnings ratio of 32.74, a P/E/G ratio of 2.17 and a beta of 1.23. Boeing has a 1-year low of $160.82 and a 1-year high of $360.97. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54.

Boeing announced that its board has authorized a share repurchase plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

A number of large investors have recently made changes to their positions in BA. Lipe & Dalton bought a new position in Boeing in the 3rd quarter valued at approximately $100,000. Burt Wealth Advisors bought a new position in Boeing in the 3rd quarter valued at approximately $100,000. Kernodle & Katon Asset Management Group LLC bought a new position in Boeing in the 3rd quarter valued at approximately $102,000. Stonehearth Capital Management LLC bought a new position in Boeing in the 4th quarter valued at approximately $105,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Boeing in the 4th quarter valued at approximately $106,000. Institutional investors own 70.81% 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.