Boeing (BA) Cut to Strong Sell at Vetr
Boeing (NYSE:BA) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday. They currently have a $279.35 target price on the aircraft producer’s stock. Vetr‘s price target would indicate a potential downside of 16.91% from the stock’s previous close.
A number of other research firms have also weighed in on BA. Jefferies Group reaffirmed a “buy” rating and set a $339.00 price target on shares of Boeing in a report on Monday, January 8th. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Buckingham Research set a $203.00 price target on shares of Boeing and gave the company a “hold” rating in a report on Thursday, December 28th. JPMorgan Chase & Co. set a $325.00 price target on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Cowen reissued a “buy” rating and set a $320.00 price objective on shares of Boeing in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $280.74.
Boeing (BA) traded up $8.09 on Wednesday, reaching $336.21. 6,560,000 shares of the company were exchanged, compared to its average volume of 3,940,000. The firm has a market cap of $200,240.00, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. Boeing has a 1-year low of $156.75 and a 1-year high of $336.88. The company has a debt-to-equity ratio of 8.54, a quick ratio of 0.39 and a current ratio of 1.18.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. The business had revenue of $24.31 billion during the quarter, compared to analyst estimates of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $3.51 EPS. analysts forecast that Boeing will post 10.13 earnings per share for the current year.
Boeing declared that its board has initiated a share buyback program on Monday, December 11th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Riverpoint Wealth Management Holdings LLC lifted its position in Boeing by 0.3% in the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,438 shares of the aircraft producer’s stock valued at $293,000 after purchasing an additional 4 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Boeing by 0.3% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,131 shares of the aircraft producer’s stock valued at $421,000 after purchasing an additional 6 shares during the last quarter. Accredited Investors Inc. lifted its position in Boeing by 0.4% in the 2nd quarter. Accredited Investors Inc. now owns 1,643 shares of the aircraft producer’s stock valued at $325,000 after purchasing an additional 6 shares during the last quarter. Silicon Valley Capital Partners increased its stake in Boeing by 0.7% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,240 shares of the aircraft producer’s stock valued at $245,000 after buying an additional 9 shares during the period. Finally, Arete Wealth Advisors LLC increased its stake in Boeing by 0.4% during the 2nd quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the aircraft producer’s stock valued at $475,000 after buying an additional 9 shares during the period. Institutional investors own 70.84% of the company’s stock.
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The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
To view Vetr’s full report, visit Vetr’s official website.
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