Royal Bank of Canada Reiterates “$220.00” Price Target for Boeing (NYSE:BA)

Boeing (NYSE:BAGet Rating) has been given a $220.00 target price by equities researchers at Royal Bank of Canada in a report released on Friday, Borsen Zeitung reports. Royal Bank of Canada’s target price would suggest a potential upside of 64.51% from the stock’s current price.

Several other brokerages also recently weighed in on BA. Zacks Investment Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating and set a $163.00 price target on the stock. in a report on Friday, April 1st. Robert W. Baird reduced their price objective on shares of Boeing from $306.00 to $245.00 in a research report on Thursday, April 28th. Langenberg & Company started coverage on shares of Boeing in a research report on Wednesday, March 9th. They set a “buy” rating on the stock. Morgan Stanley reduced their price objective on shares of Boeing from $288.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Finally, Susquehanna Bancshares reduced their price objective on shares of Boeing from $193.00 to $192.00 and set a “positive” rating on the stock in a research report on Friday, May 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $225.10.

Shares of Boeing stock opened at $133.73 on Friday. The company has a 50-day moving average of $151.78 and a 200 day moving average of $184.04. The firm has a market cap of $79.12 billion, a price-to-earnings ratio of -16.17 and a beta of 1.48. Boeing has a 1 year low of $117.08 and a 1 year high of $255.14.

Boeing (NYSE:BAGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($2.49). The firm had revenue of $13.99 billion for the quarter, compared to analysts’ expectations of $15.90 billion. During the same period in the previous year, the company earned ($1.53) EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities analysts anticipate that Boeing will post -0.81 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Karn Couzens & Associates Inc. increased its holdings in shares of Boeing by 3.4% during the fourth quarter. Karn Couzens & Associates Inc. now owns 1,534 shares of the aircraft producer’s stock worth $309,000 after purchasing an additional 50 shares during the period. Alpha Omega Group Inc. increased its stake in Boeing by 4.2% in the fourth quarter. Alpha Omega Group Inc. now owns 1,248 shares of the aircraft producer’s stock valued at $251,000 after acquiring an additional 50 shares during the last quarter. CKW Financial Group boosted its position in Boeing by 25.0% in the fourth quarter. CKW Financial Group now owns 250 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares in the last quarter. Trust Investment Advisors boosted its position in Boeing by 1.7% in the fourth quarter. Trust Investment Advisors now owns 3,132 shares of the aircraft producer’s stock valued at $631,000 after buying an additional 52 shares in the last quarter. Finally, Cadence Bank NA boosted its position in Boeing by 1.7% in the fourth quarter. Cadence Bank NA now owns 3,284 shares of the aircraft producer’s stock valued at $661,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 53.96% of the company’s stock.

Boeing Company Profile (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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