Boeing (NYSE:BA) had its price target boosted by analysts at Argus to $460.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Argus’ price target points to a potential upside of 8.37% from the company’s current price.
A number of other research firms have also recently commented on BA. UBS Group reaffirmed a “buy” rating and set a $525.00 price target (up from $500.00) on shares of Boeing in a research note on Thursday, February 28th. Morgan Stanley lifted their price target on shares of Boeing from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Boeing to $450.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $459.00 price target (up from $435.00) on shares of Boeing in a research note on Tuesday, February 5th. Finally, Jefferies Financial Group lifted their price target on shares of Boeing to $448.00 and gave the stock a “buy” rating in a research note on Monday, February 4th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $419.22.
Get Boeing alerts:BA opened at $424.46 on Thursday. Boeing has a fifty-two week low of $292.47 and a fifty-two week high of $446.01. The firm has a market cap of $239.81 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.55 and a beta of 1.31. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.96. Boeing had a net margin of 10.34% and a negative return on equity of 4,286.60%. The business had revenue of $28.34 billion during the quarter, compared to analysts’ expectations of $26.76 billion. During the same period last year, the company posted $3.04 EPS. The business’s revenue was up 14.4% on a year-over-year basis. As a group, research analysts predict that Boeing will post 20.13 EPS for the current year.
Boeing announced that its Board of Directors has authorized a share repurchase plan on Monday, December 17th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the aircraft producer to reacquire up to 11.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Boeing news, SVP Theodore Colbert III sold 2,137 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $408.85, for a total transaction of $873,712.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Heidi B. Capozzi sold 2,916 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $410.84, for a total transaction of $1,198,009.44. The disclosure for this sale can be found here. Insiders have sold a total of 72,247 shares of company stock valued at $28,922,977 in the last quarter. 0.24% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in BA. Ironwood Financial llc purchased a new stake in shares of Boeing in the 4th quarter valued at $32,000. Next Capital Management LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $32,000. Proffitt & Goodson Inc. boosted its holdings in shares of Boeing by 1,371.4% in the 4th quarter. Proffitt & Goodson Inc. now owns 103 shares of the aircraft producer’s stock valued at $33,000 after acquiring an additional 96 shares during the last quarter. Clarfeld Financial Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $40,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $40,000. 69.68% of the stock is currently owned by institutional investors.
Boeing Company Profile
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 in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
Featured Article: How does the Federal Reserve determine interest rates?
No comments:
Post a Comment