Boeing (NYSE:BA) has been assigned a $363.00 target price by stock analysts at Royal Bank of Canada in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the aircraft producer’s stock. Royal Bank of Canada’s target price points to a potential upside of 7.57% from the company’s previous close.
BA has been the topic of a number of other research reports. Buckingham Research restated a “hold” rating and set a $203.00 price target on shares of Boeing in a research note on Friday, December 22nd. Jefferies Group reaffirmed a “buy” rating and set a $339.00 price objective on shares of Boeing in a research report on Monday, January 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a $375.00 price objective (up from $310.00) on shares of Boeing in a research report on Friday, January 12th. They noted that the move was a valuation call. Nord/LB set a $250.00 price objective on Boeing and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective for the company in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. Boeing has a consensus rating of “Buy” and a consensus price target of $309.27.
Boeing (NYSE BA) traded up $1.88 during trading hours on Tuesday, reaching $337.47. The company had a trading volume of 1,126,036 shares, compared to its average volume of 4,790,000. The stock has a market cap of $201,010.00, a P/E ratio of 31.05, a PEG ratio of 2.16 and a beta of 1.23. 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 has a 12-month low of $157.84 and a 12-month high of $352.23.
Boeing announced that its board has approved a stock repurchase plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates increased its position in Boeing by 5.1% during the third quarter. Jennison Associates now owns 9,903,392 shares of the aircraft producer’s stock worth $1,296,849,000 after buying an additional 482,550 shares in the last quarter. Palo Capital increased its position in Boeing by 17.8% during the third quarter. Palo Capital now owns 2,355 shares of the aircraft producer’s stock worth $308,000 after buying an additional 355 shares in the last quarter. Chelsea Counsel Company increased its position in Boeing by 4.3% during the third quarter. Chelsea Counsel Company now owns 36,680 shares of the aircraft producer’s stock worth $4,803,000 after buying an additional 1,500 shares in the last quarter. First Financial Bank increased its position in Boeing by 0.4% during the fourth quarter. First Financial Bank now owns 9,864 shares of the aircraft producer’s stock worth $1,426,000 after buying an additional 42 shares in the last quarter. Finally, Centre Asset Management increased its position in Boeing by 639.4% during the fourth quarter. Centre Asset Management now owns 43,770 shares of the aircraft producer’s stock worth $6,329,000 after buying an additional 37,850 shares in the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.
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.
