Boeing (NYSE:BA) Price Target Cut to $215.00 by Analysts at Royal Bank of Canada

Boeing (NYSE:BA) had its target price trimmed by Royal Bank of Canada from $225.00 to $215.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the aircraft producer’s stock.

A number of other brokerages also recently issued reports on BA. Citigroup decreased their price objective on Boeing from $263.00 to $252.00 and set a buy rating on the stock in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price objective on Boeing from $230.00 to $210.00 and set an overweight rating on the stock in a research report on Friday, April 12th. UBS Group decreased their price objective on Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, March 21st. Melius Research reiterated a hold rating on shares of Boeing in a report on Monday, April 1st. Finally, Northcoast Research downgraded Boeing from a buy rating to a neutral rating in a report on Friday, February 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of Moderate Buy and a consensus target price of $233.88.

Boeing Stock Up 1.6 %

NYSE BA opened at $170.55 on Tuesday. The firm has a market cap of $104.06 billion, a price-to-earnings ratio of -46.34, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52. The business has a 50-day moving average price of $192.69 and a 200-day moving average price of $207.80. Boeing has a twelve month low of $167.53 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the company posted ($1.75) earnings per share. Boeing’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts expect that Boeing will post 0.37 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors have recently made changes to their positions in BA. Strategic Blueprint LLC raised its stake in Boeing by 8.7% in the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares during the last quarter. Rothschild Investment LLC IL raised its stake in Boeing by 21.1% in the 3rd quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock worth $14,395,000 after acquiring an additional 13,079 shares during the last quarter. Meridian Wealth Management LLC raised its stake in Boeing by 86.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock worth $4,749,000 after acquiring an additional 11,510 shares during the last quarter. Morse Asset Management Inc raised its stake in Boeing by 65.0% in the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. raised its stake in Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after acquiring an additional 33,904 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.