Boeing (NYSE:BA) Given "Outperform" Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reiterated its "outperform" rating for Boeing, setting a target price of $250.00, indicating a potential upside of 10.12% from its current stock price.
• Multiple analysts recently upgraded Boeing's stock ratings, with Bank of America increasing their target price to $260.00 and Rothschild & Co Redburn setting a target of $275.00.
• Boeing reported quarterly earnings with a revenue of $22.75 billion, which was above the consensus estimate, despite missing earnings per share expectations.

Boeing (NYSE:BA - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank Of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $250.00 target price on the aircraft producer's stock. Royal Bank Of Canada's price target would suggest a potential upside of 13.52% from the stock's current price.

Several other research firms also recently commented on BA. Redburn Atlantic raised shares of Boeing from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. The Goldman Sachs Group set a $212.00 price objective on Boeing and gave the company a "buy" rating in a research report on Thursday, June 12th. UBS Group raised their target price on Boeing from $207.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Barclays set a $255.00 price target on Boeing and gave the company an "overweight" rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $229.18.

Boeing Price Performance

NYSE BA traded down $1.62 on Wednesday, hitting $220.22. 3,770,351 shares of the stock were exchanged, compared to its average volume of 8,593,230. The company's 50-day moving average price is $214.84 and its two-hundred day moving average price is $188.30. The company has a market capitalization of $166.52 billion, a price-to-earnings ratio of -13.33 and a beta of 1.41. Boeing has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $20.13 billion. During the same period last year, the firm posted ($2.90) EPS. The firm's quarterly revenue was up 34.9% on a year-over-year basis. Equities analysts predict that Boeing will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the transaction, the executive vice president directly owned 20,513 shares of the company's stock, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Boeing

Several large investors have recently made changes to their positions in the stock. Harbor Asset Planning Inc. bought a new position in shares of Boeing in the second quarter valued at $25,000. Piscataqua Savings Bank boosted its stake in Boeing by 1,712.5% in the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer's stock valued at $30,000 after purchasing an additional 137 shares during the period. American National Bank & Trust boosted its stake in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after purchasing an additional 128 shares during the period. REAP Financial Group LLC boosted its stake in Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Dogwood Wealth Management LLC increased its stake in Boeing by 167.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after acquiring an additional 112 shares during the period. Institutional investors own 64.82% of the company's stock.

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.