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

Boeing (NYSE:BA - Free Report) had its price objective reduced by Royal Bank of Canada from $225.00 to $215.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the aircraft producer's stock.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus reduced their price objective on Boeing from $270.00 to $260.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. The Goldman Sachs Group reduced their price objective on Boeing from $268.00 to $257.00 and set a buy rating on the stock in a research note on Monday, March 25th. Northcoast Research cut Boeing from a buy rating to a neutral rating in a research note on Friday, February 23rd. TD Cowen reduced their price objective on Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a research note on Monday, March 25th. Finally, Bank of America reduced their price objective on Boeing from $210.00 to $190.00 and set a neutral rating on the stock in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $233.88.

Boeing Stock Up 1.6 %

Shares of NYSE:BA traded up $2.73 during midday trading on Tuesday, reaching $170.55. The company's stock had a trading volume of 7,976,912 shares, compared to its average volume of 9,853,187. The business has a 50 day moving average price of $192.69 and a 200 day moving average price of $207.80. Boeing has a 1 year low of $167.53 and a 1 year high of $267.54. The firm has a market cap of $104.06 billion, a price-to-earnings ratio of -46.34, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts' expectations of $21.14 billion. During the same period last year, the firm posted ($1.75) EPS. Boeing's revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Boeing will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer's stock worth $12,642,519,000 after purchasing an additional 892,446 shares during the period. Capital Research Global Investors increased its position in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer's stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Moneta Group Investment Advisors LLC increased its position in Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer's stock valued at $3,058,456,000 after acquiring an additional 16,041,103 shares during the period. Price T Rowe Associates Inc. MD increased its position in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer's stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Finally, Morgan Stanley increased its position in Boeing by 1.1% in the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer's stock valued at $1,602,880,000 after acquiring an additional 91,801 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.