Boeing (NYSE:BA) Given New $215.00 Price Target at Royal Bank of Canada

Boeing (NYSE:BA) had its price target cut by research analysts at Royal Bank of Canada from $225.00 to $215.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the aircraft producer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 27.07% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Bank of America reduced their price target on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. Citigroup dropped their price objective on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Finally, UBS Group dropped their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company 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 stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $233.88.

Boeing Stock Up 0.8 %

BA traded up $1.38 during trading on Tuesday, hitting $169.20. The company’s stock had a trading volume of 1,202,173 shares, compared to its average volume of 9,757,332. Boeing has a one year low of $167.53 and a one year high of $267.54. The firm has a market cap of $103.24 billion, a PE ratio of -45.76, a P/E/G ratio of 115.71 and a beta of 1.52. The business’s 50 day simple moving average is $193.45 and its 200-day simple moving average is $207.95.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.75) earnings per share. Equities research analysts expect that Boeing will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing during the fourth quarter worth about $28,000. Evolution Advisers Inc. acquired a new stake in Boeing during the fourth quarter worth about $28,000. CNB Bank increased its position in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Finally, Vima LLC purchased a new position in Boeing during the fourth quarter worth about $34,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

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.