Trade Report: The Jefferies Group Reiterates “Buy” Rating for Boeing Co. (BA)

The Jefferies Group Reiterates “Buy” Rating for Boeing Co. (BA)

Boeing Co. (NYSE:BA)‘s stock had its “buy” rating reiterated by Jefferies Group in a research report issued on Saturday. They presently have a $165.00 price target on the aircraft producer’s stock. Jefferies Group’s price objective suggests a potential upside of 23.27% from the stock’s current price.

A number of other brokerages have also recently issued reports on BA. Goldman Sachs Group Inc. set a $107.00 price objective on shares of Boeing and gave the company a “sell” rating in a report on Thursday, July 28th. Canaccord Genuity upped their price target on shares of Boeing from $140.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Robert W. Baird assumed coverage on shares of Boeing in a report on Wednesday. They issued an “outperform” rating and a $161.00 price target for the company. Barclays PLC reduced their price target on shares of Boeing from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $145.00 price target on shares of Boeing in a report on Sunday, July 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. Boeing has an average rating of “Hold” and a consensus target price of $147.94.

Boeing (NYSE:BA) opened at 133.85 on Friday. Boeing has a 1-year low of $102.10 and a 1-year high of $150.59. The firm has a market capitalization of $83.50 billion, a price-to-earnings ratio of 24.10 and a beta of 1.03. The company has a 50-day moving average of $131.38 and a 200-day moving average of $131.14.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.48. The firm earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. On average, equities analysts predict that Boeing will post $6.29 earnings per share for the current year.

In other Boeing news, Director Randall L. Stephenson acquired 1,871 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors raised its position in shares of Boeing by 8.8% in the second quarter. Capital World Investors now owns 47,676,799 shares of the aircraft producer’s stock worth $6,191,786,000 after buying an additional 3,866,637 shares during the period. Capital Research Global Investors raised its position in shares of Boeing by 15.8% in the second quarter. Capital Research Global Investors now owns 19,728,620 shares of the aircraft producer’s stock worth $2,562,156,000 after buying an additional 2,690,120 shares during the period. Geode Capital Management LLC raised its position in shares of Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock worth $699,957,000 after buying an additional 304,674 shares during the period. Franklin Resources Inc. raised its position in shares of Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock worth $622,808,000 after buying an additional 1,984,650 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Boeing by 5.9% in the first quarter. BlackRock Group LTD now owns 4,481,880 shares of the aircraft producer’s stock worth $568,928,000 after buying an additional 248,233 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.

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