Boeing (NYSE:BA) had its target price lifted by equities researchers at Canaccord Genuity from $290.00 to $345.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the aircraft producer’s stock. Canaccord Genuity’s price target indicates a potential downside of 4.30% from the company’s current price.
BA has been the subject of several other research reports. Buckingham Research restated a “hold” rating and issued a $203.00 target price on shares of Boeing in a research report on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $339.00 price target on shares of Boeing in a research note on Monday, January 8th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $375.00 price target (up from $310.00) on shares of Boeing in a research note on Friday, January 12th. They noted that the move was a valuation call. Nord/LB set a $250.00 price target on shares of Boeing and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, Wolfe Research raised shares of Boeing from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Boeing has an average rating of “Buy” and a consensus target price of $340.46.
Boeing (BA) traded up $6.13 during midday trading on Thursday, reaching $360.50. 3,028,036 shares of the company’s stock traded hands, compared to its average volume of 4,930,000. Boeing has a 1 year low of $160.82 and a 1 year high of $361.45. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54. The company has a market cap of $214,590.00, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.
Boeing announced that its board has initiated a share buyback plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in BA. CENTRAL TRUST Co increased its stake in shares of Boeing by 0.5% during the 2nd quarter. CENTRAL TRUST Co now owns 73,992 shares of the aircraft producer’s stock worth $14,632,000 after purchasing an additional 395 shares during the last quarter. Cadence Bank NA increased its stake in shares of Boeing by 6.4% during the 2nd quarter. Cadence Bank NA now owns 3,307 shares of the aircraft producer’s stock worth $654,000 after purchasing an additional 199 shares during the last quarter. River Wealth Advisors LLC increased its stake in shares of Boeing by 8.9% during the 2nd quarter. River Wealth Advisors LLC now owns 1,593 shares of the aircraft producer’s stock worth $315,000 after purchasing an additional 130 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in shares of Boeing by 5.1% during the 2nd quarter. Braun Stacey Associates Inc. now owns 60,415 shares of the aircraft producer’s stock worth $11,947,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of Boeing by 9.4% during the 2nd quarter. ST Germain D J Co. Inc. now owns 3,328 shares of the aircraft producer’s stock worth $658,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds 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.
