Boeing (NYSE:BA) Price Target Cut to $215.00 by Analysts at Royal Bank of Canada

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

Several other brokerages have also commented on BA. TD Cowen dropped their price objective on Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a report on Monday, March 25th. UBS Group dropped their price target on shares of Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Edward Jones cut shares of Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. Northcoast Research lowered shares of Boeing from a buy rating to a neutral rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Boeing from $230.00 to $210.00 and set an overweight rating for the company in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of Moderate Buy and an average target price of $229.35.

Boeing Price Performance

BA opened at $169.84 on Tuesday. The firm has a fifty day moving average price of $190.29 and a 200 day moving average price of $207.16. Boeing has a 1 year low of $167.53 and a 1 year high of $267.54. The stock has a market cap of $103.63 billion, a P/E ratio of -46.15, a P/E/G ratio of 116.16 and a beta of 1.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CNB Bank boosted its holdings in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing during the 4th quarter valued at approximately $26,000. Evolution Advisers Inc. acquired a new position in Boeing in the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Boeing in the fourth quarter worth approximately $28,000. Finally, True Wealth Design LLC acquired a new stake in Boeing during the fourth quarter worth $33,000. Hedge funds and other 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.