Boeing (NYSE:BA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $381.00 price target on the aircraft producer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.81% from the stock’s current price.
According to Zacks, “Boeing's share price has outperformed the industry's rally over the last year. Notably, Boeing is the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors. In this regard, the company’s 20-year market outlook forecasts commercial jetliner demand to increase by 3.6%. Boeing expects single-aisle jets to be the major driver behind this demand growth. Meanwhile, India appears to be another promising market for Boeing as the country is expected to become the world’s fastest growing aviation market. Yet, this aerospace company continues to face challenges from stiff competition as well as falling delivery numbers.”
A number of other analysts have also recently commented on BA. Seaport Global Securities reissued a “buy” rating and issued a $430.00 price target on shares of Boeing in a research report on Thursday. Vetr raised Boeing from a “strong sell” rating to a “sell” rating and set a $303.48 price target on the stock in a research report on Tuesday, January 16th. Wolfe Research raised Boeing from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. Robert W. Baird set a $433.00 price target on Boeing and gave the stock a “buy” rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on Boeing to $380.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $306.23.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The firm had revenue of $24.31 billion for the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the prior year, the business earned $3.51 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. sell-side analysts expect that Boeing will post 10.17 earnings per share for the current fiscal year.
Boeing announced that its board has approved a stock repurchase program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently bought and sold shares of BA. Stonehearth Capital Management LLC purchased a new stake in Boeing in the 4th quarter worth $105,000. Solaris Asset Management LLC purchased a new stake in Boeing in the 4th quarter worth $111,000. Lipe & Dalton purchased a new stake in Boeing in the 3rd quarter worth $100,000. Burt Wealth Advisors purchased a new stake in Boeing in the 3rd quarter worth $100,000. Finally, Clear Perspective Advisors LLC increased its stake in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
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Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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