Royal Bank of Canada Lowers Boeing (NYSE:BA) Price Target to $215.00

Boeing (NYSE:BA) had its price objective cut by Royal Bank of Canada from $225.00 to $215.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the aircraft producer’s stock.

BA has been the topic of a number of other reports. Stifel Nicolaus decreased their price target on Boeing from $270.00 to $260.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Citigroup decreased their price target on Boeing from $263.00 to $252.00 and set a buy rating on the stock in a research note on Thursday, March 28th. UBS Group decreased their price target on Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Sanford C. Bernstein decreased their price target on Boeing from $272.00 to $240.00 and set an outperform rating on the stock in a research note on Monday, April 8th. Finally, Susquehanna decreased their price target on Boeing from $265.00 to $230.00 and set a positive rating on the stock in a research note on Thursday, March 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of Moderate Buy and a consensus price target of $233.88.

Boeing Trading Up 1.6 %

NYSE:BA opened at $170.55 on Tuesday. The firm has a market cap of $104.06 billion, a P/E ratio of -46.34, a PEG ratio of 115.71 and a beta of 1.52. The stock’s 50 day simple moving average is $192.69 and its 200-day simple moving average is $207.80. Boeing has a 12-month low of $167.53 and a 12-month high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.75) EPS. Research analysts forecast that Boeing will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC raised its holdings in shares of Boeing by 381.1% in the first quarter. MCF Advisors LLC now owns 6,105 shares of the aircraft producer’s stock worth $1,178,000 after acquiring an additional 4,836 shares during the last quarter. Opinicus Capital Inc. increased its stake in Boeing by 18.3% in the first quarter. Opinicus Capital Inc. now owns 1,452 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 225 shares during the last quarter. First Dallas Securities Inc. increased its stake in Boeing by 3.4% in the first quarter. First Dallas Securities Inc. now owns 16,926 shares of the aircraft producer’s stock valued at $3,267,000 after purchasing an additional 552 shares during the last quarter. Hodges Capital Management Inc. increased its stake in Boeing by 64.7% in the first quarter. Hodges Capital Management Inc. now owns 45,197 shares of the aircraft producer’s stock valued at $8,722,000 after purchasing an additional 17,748 shares during the last quarter. Finally, Weaver Consulting Group increased its stake in Boeing by 3.1% in the first quarter. Weaver Consulting Group now owns 8,676 shares of the aircraft producer’s stock valued at $1,674,000 after purchasing an additional 259 shares during the last quarter. 64.82% of the stock is 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.