Analysts Set The Boeing Company (NYSE:BA) Price Target at $252.48

by · The Markets Daily

The Boeing Company (NYSE:BAGet Free Report) has received a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $252.4762.

Several analysts have weighed in on BA shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Boeing in a research note on Tuesday, December 9th. Susquehanna reissued a “positive” rating and set a $280.00 price target on shares of Boeing in a report on Thursday, January 15th. New Street Research set a $257.00 price objective on shares of Boeing in a research note on Tuesday, December 9th. Royal Bank Of Canada upped their price objective on shares of Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Boeing in a research report on Wednesday, January 28th.

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Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

Boeing Price Performance

NYSE BA opened at $208.42 on Friday. The company has a 50-day moving average price of $223.16 and a two-hundred day moving average price of $216.44. Boeing has a 52 week low of $128.88 and a 52 week high of $254.35. The stock has a market cap of $163.68 billion, a price-to-earnings ratio of 103.69 and a beta of 1.13. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 8.37.

Boeing (NYSE:BAGet Free Report) last released its quarterly earnings results on Tuesday, January 27th. The aircraft producer reported $9.92 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $10.32. The business had revenue of $23.95 billion for the quarter, compared to the consensus estimate of $22.41 billion. During the same period last year, the firm posted ($5.90) EPS. The business’s quarterly revenue was up 57.1% on a year-over-year basis. Analysts forecast that Boeing will post -2.58 EPS for the current year.

Insider Activity at Boeing

In related news, EVP Howard E. Mckenzie sold 10,497 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $233.99, for a total transaction of $2,456,193.03. Following the sale, the executive vice president owned 14,692 shares of the company’s stock, valued at $3,437,781.08. The trade was a 41.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ann M. Schmidt sold 6,281 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total value of $1,528,606.97. Following the completion of the sale, the senior vice president owned 13,978 shares of the company’s stock, valued at $3,401,825.86. This trade represents a 31.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 21,012 shares of company stock valued at $4,980,687. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently modified their holdings of the company. Patton Fund Management Inc. lifted its stake in Boeing by 734.4% in the 3rd quarter. Patton Fund Management Inc. now owns 10,322 shares of the aircraft producer’s stock worth $2,228,000 after acquiring an additional 9,085 shares in the last quarter. SteelPeak Wealth LLC grew its stake in Boeing by 50.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 26,360 shares of the aircraft producer’s stock valued at $5,689,000 after acquiring an additional 8,833 shares in the last quarter. Fisher Asset Management LLC grew its stake in Boeing by 3.3% during the 3rd quarter. Fisher Asset Management LLC now owns 5,505,040 shares of the aircraft producer’s stock valued at $1,188,153,000 after acquiring an additional 177,597 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Boeing by 41.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 223,824 shares of the aircraft producer’s stock valued at $48,316,000 after purchasing an additional 65,216 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Boeing by 47.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,477 shares of the aircraft producer’s stock valued at $3,988,000 after purchasing an additional 5,966 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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