Boeing (NYSE:BA) Stock Price Expected to Rise, Citigroup Analyst Says

Boeing (NYSE:BA) had its price objective hoisted by Citigroup from $207.00 to $210.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, October 15th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $195.16.

Boeing Stock Performance

Boeing stock opened at $186.04 on Monday. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $208.10. The company has a market capitalization of $139.54 billion, a P/E ratio of -10.16 and a beta of 1.52. The stock has a 50-day simple moving average of $173.21 and a 200-day simple moving average of $163.95.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) earnings per share. As a group, analysts forecast that Boeing will post -2.3 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the company. Keynote Financial Services LLC grew its holdings in shares of Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after acquiring an additional 57 shares during the period. Chaney Capital Management Inc. grew its holdings in shares of Boeing by 2.1% in the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock worth $508,000 after acquiring an additional 58 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in shares of Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock worth $1,878,000 after acquiring an additional 59 shares during the period. Center for Financial Planning Inc. grew its holdings in shares of Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after acquiring an additional 60 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Boeing by 1.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,923 shares of the aircraft producer’s stock worth $871,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

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.