Royal Bank of Canada Cuts Boeing (NYSE:BA) Price Target to $215.00

Boeing (NYSE:BA) had its price target trimmed by Royal Bank of Canada from $225.00 to $215.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the aircraft producer’s stock.

BA has been the subject of a number of other research reports. The Goldman Sachs Group decreased their target price on Boeing from $268.00 to $257.00 and set a buy rating for the company in a research report on Monday, March 25th. Melius reissued a hold rating on shares of Boeing in a research report on Monday, April 1st. Melius Research reaffirmed a hold rating on shares of Boeing in a research report on Monday, April 1st. Sanford C. Bernstein reduced their price target on shares of Boeing from $272.00 to $240.00 and set an outperform rating for the company in a research report on Monday, April 8th. Finally, Citigroup reduced their price target on shares of Boeing from $263.00 to $252.00 and set a buy rating for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $229.35.

Boeing Price Performance

Shares of Boeing stock opened at $170.24 on Tuesday. The stock has a market cap of $103.87 billion, a price-to-earnings ratio of -46.26, a PEG ratio of 116.39 and a beta of 1.52. The firm’s 50-day moving average is $191.08 and its 200 day moving average is $207.28. Boeing has a 1 year low of $167.53 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results 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 business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period last year, the firm posted ($1.75) EPS. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Boeing will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Naviter Wealth LLC boosted its stake in Boeing by 39.4% in the 1st quarter. Naviter Wealth LLC now owns 5,541 shares of the aircraft producer’s stock worth $1,069,000 after purchasing an additional 1,566 shares during the period. InTrack Investment Management Inc boosted its stake in Boeing by 61.6% in the 1st quarter. InTrack Investment Management Inc now owns 5,038 shares of the aircraft producer’s stock worth $972,000 after purchasing an additional 1,920 shares during the period. Cullinan Associates Inc. boosted its stake in Boeing by 73.3% in the 1st quarter. Cullinan Associates Inc. now owns 6,975 shares of the aircraft producer’s stock worth $1,346,000 after purchasing an additional 2,950 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Boeing by 2.4% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 20,179 shares of the aircraft producer’s stock worth $3,894,000 after purchasing an additional 468 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in Boeing by 5.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 19,005 shares of the aircraft producer’s stock worth $3,668,000 after purchasing an additional 1,064 shares during the period. 64.82% of the stock is currently owned by institutional investors.

About Boeing

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.