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

Boeing (NYSE:BA) had its price target decreased by Royal Bank of Canada from $225.00 to $215.00 in a research report released on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aircraft producer’s stock.

A number of other brokerages also recently issued reports on BA. TD Cowen dropped their price target on shares of Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a report on Monday, March 25th. Stifel Nicolaus cut their target price on shares of Boeing from $270.00 to $260.00 and set a buy rating for the company in a research report on Wednesday, April 10th. The Goldman Sachs Group lowered their price target on Boeing from $268.00 to $257.00 and set a buy rating on the stock in a report on Monday, March 25th. UBS Group reduced their price objective on Boeing from $275.00 to $250.00 and set a buy rating for the company in a research report on Thursday, March 21st. Finally, Edward Jones cut Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $229.35.

Boeing Stock Performance

Shares of Boeing stock opened at $169.84 on Tuesday. Boeing has a 52-week low of $167.53 and a 52-week high of $267.54. The stock has a market capitalization of $103.63 billion, a PE ratio of -46.15, a price-to-earnings-growth ratio of 116.16 and a beta of 1.52. The company has a 50-day simple moving average of $190.29 and a two-hundred day simple moving average of $207.16.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the firm earned ($1.75) EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Boeing will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. United Bank grew its holdings in Boeing by 4.7% during the 1st quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after buying an additional 226 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Boeing by 1,064.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock worth $163,000 after acquiring an additional 777 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Boeing by 68.0% during the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after acquiring an additional 2,879 shares in the last quarter. Prudential PLC bought a new stake in Boeing in the 1st quarter valued at $836,000. Finally, Dakota Wealth Management lifted its stake in Boeing by 26.7% in the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after purchasing an additional 448 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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.