Canaccord Genuity Reaffirms Hold Rating for Boeing Company (The) (BA)

Boeing Company (The) (NYSE:BA)‘s stock had its “hold” rating reissued by equities researchers at Canaccord Genuity in a report issued on Thursday, October 5th. They presently have a $235.00 target price on the aircraft producer’s stock. Canaccord Genuity’s target price would indicate a potential downside of 9.13% from the company’s current price.

BA has been the topic of a number of other research reports. Zacks Investment Research upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $228.00 target price on the stock in a research report on Tuesday, July 11th. Deutsche Bank AG raised their price objective on Boeing Company (The) to $300.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Berenberg Bank set a $245.00 price objective on Boeing Company (The) and gave the company a “buy” rating in a report on Friday, July 21st. Credit Suisse Group restated a “sell” rating on shares of Boeing Company (The) in a report on Friday, July 28th. Finally, J P Morgan Chase & Co upgraded Boeing Company (The) from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $240.00 in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $240.77.

Boeing Company (NYSE BA) opened at 258.58 on Thursday. Boeing Company has a one year low of $133.33 and a one year high of $263.79. The firm has a market cap of $152.84 billion, a price-to-earnings ratio of 22.65 and a beta of 1.21. The stock’s 50 day moving average is $249.87 and its 200-day moving average is $212.73.

Boeing Company (The) (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.23. The business had revenue of $22.74 billion for the quarter, compared to analysts’ expectations of $22.97 billion. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.44) EPS. On average, equities research analysts expect that Boeing Company will post $10.03 earnings per share for the current fiscal year.

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In related news, CFO Gregory D. Smith sold 19,757 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $245.42, for a total transaction of $4,848,762.94. Following the transaction, the chief financial officer now owns 152,195 shares of the company’s stock, valued at $37,351,696.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas J. Downey sold 134 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $241.20, for a total value of $32,320.80. The disclosure for this sale can be found here. In the last three months, insiders sold 83,468 shares of company stock worth $20,353,814. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Clear Perspective Advisors LLC boosted its position in Boeing Company (The) by 31.0% during the second quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Boeing Company (The) by 181.9% during the first quarter. Proficio Capital Partners LLC now owns 623 shares of the aircraft producer’s stock worth $115,000 after purchasing an additional 402 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in Boeing Company (The) by 11.1% during the second quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after purchasing an additional 84 shares in the last quarter. MCF Advisors LLC boosted its position in Boeing Company (The) by 9.5% during the first quarter. MCF Advisors LLC now owns 712 shares of the aircraft producer’s stock worth $126,000 after purchasing an additional 62 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Boeing Company (The) by 16.9% during the first quarter. SRS Capital Advisors Inc. now owns 742 shares of the aircraft producer’s stock worth $131,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.

About Boeing Company (The)

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.

Analyst Recommendations for Boeing Company (The) (NYSE:BA)

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