Boeing Co (BA) Receives $410.48 Average Price Target from Analysts
Shares of Boeing Co (NYSE:BA) have earned an average rating of “Hold” from the twenty-nine ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $409.73.
A number of brokerages have commented on BA. UBS Group restated a “buy” rating and issued a $525.00 target price (up from $500.00) on shares of Boeing in a research note on Thursday, February 28th. Morgan Stanley increased their price objective on shares of Boeing from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, February 28th. Argus increased their price objective on shares of Boeing from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Boeing to $450.00 and gave the company an “overweight” rating in a research note on Monday, February 11th. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, March 11th.
BA stock traded down $4.18 during mid-day trading on Wednesday, reaching $375.46. The company had a trading volume of 3,534,191 shares, compared to its average volume of 7,092,425. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. The company has a market capitalization of $214.30 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.94 and a beta of 1.33. Boeing has a 12 month low of $292.47 and a 12 month high of $446.01.
Boeing announced that its board has approved a share buyback plan on Monday, December 17th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the aircraft producer to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP J Michael Luttig sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $410.46, for a total transaction of $3,488,910.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Heidi B. Capozzi sold 2,916 shares of the stock in a transaction that occurred on Wednesday, February 13th. The shares were 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 72,247 shares of company stock valued at $28,922,977 in the last three months. 0.23% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. raised its holdings in shares of Boeing by 18.3% in the first quarter. Hodges Capital Management Inc. now owns 27,427 shares of the aircraft producer’s stock worth $10,461,000 after buying an additional 4,249 shares during the last quarter. Arbor Investment Advisors LLC purchased a new position in shares of Boeing in the first quarter worth $477,000. Paragon Capital Management LLC purchased a new position in shares of Boeing in the first quarter worth $25,000. Jag Capital Management LLC purchased a new position in shares of Boeing in the first quarter worth $317,000. Finally, Toth Financial Advisory Corp raised its holdings in shares of Boeing by 24.1% in the first quarter. Toth Financial Advisory Corp now owns 7,245 shares of the aircraft producer’s stock worth $2,764,000 after buying an additional 1,405 shares during the last quarter. 69.77% of the stock is 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.
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