Boeing Co. (BA) Given New $150.00 Price Target at Barclays PLC
Boeing Co. (NYSE:BA) had its price target cut by Barclays PLC from $155.00 to $150.00 in a research report released on Thursday morning, StockTargetPrices.com reports. They currently have an overweight rating on the aircraft producer’s stock.
A number of other brokerages have also recently weighed in on BA. JPMorgan Chase & Co. set a $140.00 target price on shares of Boeing and gave the stock a neutral rating in a report on Monday, July 4th. Jefferies Group restated a buy rating and set a $165.00 target price on shares of Boeing in a report on Friday, August 19th. Vetr upgraded shares of Boeing from a sell rating to a hold rating and set a $129.80 price target for the company in a research report on Monday, August 1st. Goldman Sachs Group Inc. set a $100.00 price target on shares of Boeing and gave the company a sell rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG restated a neutral rating and issued a $148.00 price target on shares of Boeing in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. Boeing has an average rating of Hold and an average target price of $147.94.
Shares of Boeing (NYSE:BA) traded down 0.90% during mid-day trading on Thursday, hitting $133.21. 2,327,523 shares of the stock traded hands. Boeing has a 52 week low of $102.10 and a 52 week high of $150.59. The stock has a 50-day moving average of $131.41 and a 200-day moving average of $131.15. The company has a market cap of $83.10 billion, a price-to-earnings ratio of 23.98 and a beta of 1.03.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. The firm earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. Analysts anticipate that Boeing will post $6.29 EPS for the current year.
In related news, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall L. Stephenson acquired 1,871 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $133.89 per share, with a total value of $250,508.19. Following the acquisition, the director now owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BA. Stillwater Investment Management LLC boosted its position in shares of Boeing by 0.8% in the third quarter. Stillwater Investment Management LLC now owns 1,965 shares of the aircraft producer’s stock worth $259,000 after buying an additional 16 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in shares of Boeing by 1.2% in the third quarter. Franklin Street Advisors Inc. NC now owns 19,978 shares of the aircraft producer’s stock worth $2,632,000 after buying an additional 243 shares in the last quarter. Hefty Wealth Partners boosted its position in shares of Boeing by 9.3% in the third quarter. Hefty Wealth Partners now owns 8,915 shares of the aircraft producer’s stock worth $1,174,000 after buying an additional 762 shares in the last quarter. Telemus Capital LLC boosted its position in shares of Boeing by 3.6% in the third quarter. Telemus Capital LLC now owns 2,205 shares of the aircraft producer’s stock worth $290,000 after buying an additional 77 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. boosted its position in shares of Boeing by 9.2% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 7,406 shares of the aircraft producer’s stock worth $975,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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