Credit Suisse Group reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a report released on Friday, AnalystRatings.com reports. Credit Suisse Group currently has a $440.00 target price on the aircraft producer’s stock.
BA has been the topic of a number of other research reports. Morgan Stanley lifted their price objective on Boeing from $450.00 to $500.00 and gave the stock an overweight rating in a research report on Thursday, February 28th. Jefferies Financial Group lifted their price objective on Boeing to $448.00 and gave the stock a buy rating in a research report on Monday, February 4th. JPMorgan Chase & Co. lifted their price objective on Boeing to $450.00 and gave the stock an overweight rating in a research report on Monday, February 11th. Nord/LB reiterated a sell rating and set a $300.00 price objective on shares of Boeing in a research report on Wednesday, March 13th. Finally, Citigroup started coverage on Boeing in a research report on Wednesday, March 27th. They issued a buy rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $409.61.
Shares of Boeing stock opened at $375.46 on Friday. Boeing has a one year low of $292.47 and a one year high of $446.01. The company has a market cap of $214.30 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.94 and a beta of 1.33. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 25.99.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.96. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm had revenue of $28.34 billion for the quarter, compared to the consensus estimate of $26.76 billion. During the same quarter last year, the business posted $3.04 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, research analysts predict that Boeing will post 17.07 earnings per share for the current year.
Boeing announced that its Board of Directors has authorized a share buyback plan on Monday, December 17th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, SVP Theodore Colbert III sold 2,137 shares of Boeing stock in a transaction on Monday, February 11th. The stock was sold at an average price of $408.85, for a total value of $873,712.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy John Keating sold 26,557 shares of Boeing stock in a transaction on Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock valued at $28,922,977 over the last ninety days. Insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in Boeing by 21,969.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,328,303 shares of the aircraft producer’s stock worth $125,000 after purchasing an additional 40,145,567 shares in the last quarter. Newport Trust Co grew its stake in Boeing by 4.2% during the 4th quarter. Newport Trust Co now owns 33,492,259 shares of the aircraft producer’s stock worth $10,801,254,000 after purchasing an additional 1,363,909 shares in the last quarter. FMR LLC grew its stake in Boeing by 2.3% during the 4th quarter. FMR LLC now owns 8,730,206 shares of the aircraft producer’s stock worth $2,815,492,000 after purchasing an additional 194,957 shares in the last quarter. Jennison Associates LLC grew its stake in Boeing by 3.2% during the 4th quarter. Jennison Associates LLC now owns 7,817,279 shares of the aircraft producer’s stock worth $2,521,073,000 after purchasing an additional 245,100 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Boeing by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after purchasing an additional 214,945 shares in the last quarter. 69.77% of the stock is owned by institutional investors and hedge funds.
Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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