Boeing (BA) Upgraded to “Buy” by Vetr
Boeing (NYSE:BA) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $343.92 price target on the aircraft producer’s stock. Vetr‘s price objective points to a potential upside of 3.33% from the stock’s current price.
Several other equities research analysts have also commented on BA. Canaccord Genuity upped their price objective on Boeing from $235.00 to $245.00 and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Credit Suisse Group reiterated an “outperform” rating and issued a $310.00 price target (up previously from $300.00) on shares of Boeing in a research note on Tuesday, October 24th. Morgan Stanley increased their price target on Boeing from $260.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Royal Bank of Canada increased their price target on Boeing from $269.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 26th. Finally, Cowen reiterated a “buy” rating and issued a $315.00 price target on shares of Boeing in a research note on Thursday, October 26th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Boeing has a consensus rating of “Buy” and a consensus price target of $353.24.
Shares of Boeing (NYSE BA) opened at $332.83 on Monday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The company has a market capitalization of $198,230.00, a price-to-earnings ratio of 24.73, a PEG ratio of 1.83 and a beta of 1.44. Boeing has a 12 month low of $164.47 and a 12 month high of $361.45.
Boeing declared that its board has approved a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Boeing by 2.1% in the 4th quarter. BlackRock Inc. now owns 35,515,544 shares of the aircraft producer’s stock valued at $10,473,889,000 after acquiring an additional 713,832 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after acquiring an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after acquiring an additional 4,852,679 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Boeing by 13.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after acquiring an additional 402,240 shares during the last quarter. 70.78% of the stock is owned by institutional investors and hedge funds.
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The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
To view Vetr’s full report, visit Vetr’s official website.
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