Boeing’s (BA) Buy Rating Reaffirmed at JPMorgan Chase & Co.

Boeing (NYSE:BA)‘s stock had its “buy” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research report issued on Thursday. They currently have a $400.00 price target on the aircraft producer’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 19.37% from the stock’s current price.

A number of other equities research analysts also recently commented on BA. Zacks Investment Research upgraded Boeing from a “hold” rating to a “buy” rating and set a $407.00 price objective for the company in a report on Friday, October 26th. Jefferies Financial Group upped their price objective on Boeing from $415.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, October 25th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Tigress Financial reiterated a “buy” rating on shares of Boeing in a report on Monday, November 26th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $360.00 price objective (up previously from $350.00) on shares of Boeing in a report on Thursday, October 25th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Boeing has a consensus rating of “Buy” and a consensus target price of $410.21.

Shares of BA stock traded up $3.18 on Thursday, reaching $335.08. 15,130 shares of the stock were exchanged, compared to its average volume of 4,034,131. The company has a market cap of $194.50 billion, a P/E ratio of 27.73, a PEG ratio of 1.71 and a beta of 1.30. Boeing has a one year low of $277.80 and a one year high of $394.28. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 8.07.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.11. The business had revenue of $25.15 billion during the quarter, compared to the consensus estimate of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.72 earnings per share. As a group, equities research analysts anticipate that Boeing will post 15.05 earnings per share for the current fiscal year.

In other news, SVP Diana L. Sands sold 5,000 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jenette E. Ramos sold 1,640 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Hudock Capital Group LLC raised its holdings in Boeing by 3.4% during the second quarter. Hudock Capital Group LLC now owns 4,341 shares of the aircraft producer’s stock worth $1,456,000 after acquiring an additional 144 shares in the last quarter. South Texas Money Management Ltd. raised its stake in Boeing by 5.4% in the third quarter. South Texas Money Management Ltd. now owns 2,835 shares of the aircraft producer’s stock valued at $1,054,000 after buying an additional 145 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its stake in Boeing by 0.5% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 30,349 shares of the aircraft producer’s stock valued at $10,182,000 after buying an additional 146 shares during the period. Bourne Lent Asset Management Inc. raised its stake in Boeing by 9.5% in the second quarter. Bourne Lent Asset Management Inc. now owns 1,728 shares of the aircraft producer’s stock valued at $580,000 after buying an additional 150 shares during the period. Finally, First United Bank Trust raised its stake in Boeing by 24.3% in the third quarter. First United Bank Trust now owns 768 shares of the aircraft producer’s stock valued at $286,000 after buying an additional 150 shares during the period. 69.64% of the stock is owned by institutional investors.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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