Royal Bank of Canada Reaffirms Outperform Rating for Boeing (NYSE:BA)

Boeing (NYSE:BA)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $200.00 target price on the aircraft producer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 15.51% from the company’s previous close.

Other analysts also recently issued research reports about the company. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Wells Fargo & Company boosted their target price on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.47.

Boeing Stock Performance

Boeing stock traded down $4.64 during trading on Wednesday, reaching $173.14. 7,521,208 shares of the company’s stock were exchanged, compared to its average volume of 8,720,212. The firm has a market cap of $107.04 billion, a price-to-earnings ratio of -13.40 and a beta of 1.52. The company’s 50-day moving average is $167.68 and its two-hundred day moving average is $164.19. Boeing has a 52-week low of $137.03 and a 52-week high of $214.63.

Boeing (NYSE:BA) last released 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 period in the prior year, the company earned ($0.47) EPS. Analysts anticipate that Boeing will post -16.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BA. Van ECK Associates Corp increased its position in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. lifted its position in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the period. State Street Corp raised its stake in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.