Boeing (NYSE:BA) Earns “Reiterates” Rating from SpectralCast

Posted by on Jun 24th, 2023

SpectralCast restated their reiterates rating on shares of Boeing (NYSE:BA – Get Rating) in a research report report published on Wednesday, Benzinga reports.

A number of other brokerages have also recently commented on BA. Credit Suisse Group raised their price target on shares of Boeing from $200.00 to $220.00 in a research note on Monday, April 10th. The Goldman Sachs Group raised their price target on shares of Boeing from $261.00 to $270.00 and gave the stock a buy rating in a research note on Wednesday, April 12th. Wells Fargo & Company raised their price target on shares of Boeing from $230.00 to $237.00 in a research note on Thursday, April 27th. StockNews.com cut shares of Boeing from a hold rating to a sell rating in a research note on Friday, June 16th. Finally, Royal Bank of Canada cut their target price on shares of Boeing from $225.00 to $220.00 in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $221.60.

Boeing Stock Down 0.1 %

BA stock opened at $205.41 on Wednesday. Boeing has a twelve month low of $120.99 and a twelve month high of $223.91. The company has a market cap of $123.57 billion, a PE ratio of -29.68 and a beta of 1.42. The business’s 50-day simple moving average is $207.05 and its 200 day simple moving average is $204.86.

Boeing (NYSE:BA – Get Rating) last released its earnings results on Wednesday, April 26th. The aircraft producer reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.29). The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the previous year, the business posted ($2.75) earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts anticipate that Boeing will post -1.03 EPS for the current year.

Insiders Place Their Bets

In other Boeing news, EVP Howard E. Mckenzie sold 412 shares of Boeing stock in a transaction on Monday, May 1st. The shares were sold at an average price of $204.36, for a total transaction of $84,196.32. Following the completion of the sale, the executive vice president now owns 17,181 shares of the company’s stock, valued at approximately $3,511,109.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atomi Financial Group Inc. acquired a new position in shares of Boeing in the 1st quarter valued at $3,338,000. EP Wealth Advisors LLC acquired a new position in shares of Boeing in the 1st quarter valued at $1,034,000. Golden State Equity Partners acquired a new position in shares of Boeing in the 1st quarter valued at $205,000. Coastline Trust Co grew its holdings in shares of Boeing by 16.7% in the 1st quarter. Coastline Trust Co now owns 4,143 shares of the aircraft producer’s stock valued at $880,000 after buying an additional 594 shares during the period. Finally, BKA Wealth Consulting Inc. acquired a new position in shares of Boeing in the 1st quarter valued at $1,886,000. Institutional investors and hedge funds own 60.22% of the company’s stock.

About Boeing

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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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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