Boeing (NYSE:BA) Price Target Cut to $265.00 by Analysts at Royal Bank Of Canada

Boeing (NYSE:BA - Get Free Report) had its target price decreased by analysts at Royal Bank Of Canada from $275.00 to $265.00 in a report issued on Wednesday, July 29th, MarketBeat reports. The brokerage currently has an "outperform" rating on the aircraft producer's stock. Royal Bank Of Canada's price objective points to a potential upside of 28.17% from the stock's previous close.

BA has been the subject of several other reports. Tigress Financial lifted their price target on shares of Boeing from $290.00 to $295.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Citigroup boosted their price objective on Boeing from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Robert W. Baird set a $300.00 target price on shares of Boeing in a research report on Wednesday, July 29th. William Blair reissued an "outperform" rating on shares of Boeing in a research report on Tuesday, July 28th. Finally, Btg Pactual set a $260.00 target price on Boeing in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $272.58.

Boeing Price Performance

Shares of NYSE:BA traded down $3.07 during midday trading on Wednesday, reaching $206.75. 1,673,828 shares of the company were exchanged, compared to its average volume of 6,642,756. The stock has a market cap of $163.41 billion, a PE ratio of 89.50 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. Boeing has a one year low of $176.77 and a one year high of $254.35. The business's fifty day moving average is $220.60 and its two-hundred day moving average is $221.20.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The firm had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same period in the prior year, the company posted ($1.24) earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that Boeing will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of BA. Purus Wealth Management LLC raised its position in shares of Boeing by 3.6% during the 4th quarter. Purus Wealth Management LLC now owns 1,177 shares of the aircraft producer's stock valued at $256,000 after acquiring an additional 41 shares during the last quarter. West Wealth Group LLC raised its stake in Boeing by 0.6% in the fourth quarter. West Wealth Group LLC now owns 7,279 shares of the aircraft producer's stock valued at $1,581,000 after purchasing an additional 42 shares in the last quarter. XML Financial LLC increased its position in shares of Boeing by 0.5% during the fourth quarter. XML Financial LLC now owns 8,905 shares of the aircraft producer's stock valued at $1,933,000 after buying an additional 43 shares during the period. Global Financial Private Client LLC boosted its holdings in Boeing by 1.1% in the fourth quarter. Global Financial Private Client LLC now owns 4,025 shares of the aircraft producer's stock worth $874,000 after purchasing an additional 44 shares during the last quarter. Finally, North Star Investment Management Corp. grew its position in shares of Boeing by 1.6% during the fourth quarter. North Star Investment Management Corp. now owns 2,833 shares of the aircraft producer's stock valued at $615,000 after purchasing an additional 44 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Company Profile

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.