Boeing (NYSE:BA) was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating in a report issued on Tuesday, Marketbeat.com reports.
A number of other analysts also recently issued reports on BA. Canaccord Genuity lifted their price objective on shares of Boeing from $235.00 to $245.00 and gave the company a “hold” rating in a report on Wednesday, October 18th. Vetr downgraded shares of Boeing from a “hold” rating to a “sell” rating and set a $254.15 price objective on the stock. in a report on Monday, October 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $310.00 price objective (up from $300.00) on shares of Boeing in a report on Tuesday, October 24th. Morgan Stanley lifted their price objective on shares of Boeing from $260.00 to $285.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Boeing from $269.00 to $273.00 and gave the company a “sector perform” rating in a report on Thursday, October 26th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $353.24.
Shares of Boeing (NYSE BA) traded up $1.15 on Tuesday, reaching $344.95. 1,899,720 shares of the company’s stock were exchanged, compared to its average volume of 6,416,387. The company has a debt-to-equity ratio of 23.74, a quick ratio of 0.37 and a current ratio of 1.16. Boeing has a 1 year low of $167.22 and a 1 year high of $361.45. The company has a market capitalization of $205,100.00, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.83 and a beta of 1.44.
Boeing declared that its Board of Directors has authorized a share buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. LMR Partners LLP bought a new position in Boeing during the second quarter worth $4,904,000. Allegis Investment Advisors LLC bought a new stake in shares of Boeing in the second quarter valued at about $351,000. Blair William & Co. IL boosted its position in shares of Boeing by 4.1% in the second quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after acquiring an additional 6,141 shares during the period. Alps Advisors Inc. boosted its position in shares of Boeing by 46.4% in the second quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after acquiring an additional 1,532 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Boeing by 23.2% in the second quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after acquiring an additional 112,520 shares during the period. Institutional investors and hedge funds own 70.45% 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.
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