The Boeing Company (NYSE:BA) Stock Has Average Target Price of $266.96

Shares of The Boeing Company (NYSE:BA) have earned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, eighteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $266.96.

A number of analysts recently issued reports on the company. Zacks Research cut Boeing from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Morgan Stanley lowered their target price on Boeing from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Citigroup lowered Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 price target on Boeing in a research note on Tuesday, July 14th. Finally, Bank of America reiterated a “buy” rating and set a $270.00 price target on shares of Boeing in a report on Friday, September 18th.

Boeing Trading Down 0.3%

Shares of NYSE:BA opened at $187.78 on Tuesday. The firm has a fifty day moving average of $201.13 and a two-hundred day moving average of $218.67. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. Boeing has a 12-month low of $176.77 and a 12-month high of $254.35. The firm has a market capitalization of $148.41 billion, a P/E ratio of 81.29 and a beta of 1.26.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%. The company had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same period last year, the company posted ($1.24) earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that Boeing will post -1.08 EPS for the current fiscal year.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The FAA certification of Boeing’s 737 MAX 10 removes a significant regulatory overhang and could support future deliveries, customer confidence and the company’s commercial-aircraft backlog. Boeing’s 737 MAX-10 certification removes key overhang ahead of earnings
• Positive Sentiment: Boeing’s defense business received a boost from work on the FQ-42 Vengeance Collaborative Combat Aircraft, while broader military-drone demand and a large order backlog provide potential long-term growth catalysts. What Does Boeing Need To Prove After Its 777F Halt And Defense Win?
• Neutral Sentiment: Analysts expect Boeing to report another quarterly loss, although the loss is forecast to narrow. Investors will focus on aircraft deliveries, production rates, free cash flow, management’s outlook and whether recent wins represent a sustainable turnaround. Boeing forecast to post small quarterly loss despite recent wins
• Negative Sentiment: A supplier dispute halted 777 Freighter assembly for nearly two months and disrupted related 767 freighter and KC-46 tanker production. The stoppage raises concerns about near-term deliveries, revenue timing, costs and Boeing’s ability to convert its backlog into cash. Boeing’s 777 Freighter Line Has Been Idle for Two Months
• Negative Sentiment: Bearish technical patterns and expectations for another loss are limiting enthusiasm before the report. Investors are demanding clear evidence that production problems are easing and that Boeing can generate positive free cash flow. Boeing Q3 Preview

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in Boeing in the second quarter valued at approximately $26,000. Strategic Wealth Advisors LLC bought a new stake in Boeing in the second quarter worth approximately $27,000. Retirement Wealth Solutions LLC grew its position in Boeing by 3,575.0% in the third quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock worth $27,000 after acquiring an additional 143 shares in the last quarter. Bayban bought a new stake in Boeing in the fourth quarter worth approximately $29,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of Boeing during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.