Boeing (NYSE:BA) Price Target Raised to $217.00

Boeing (NYSE:BA - Get Free Report) had its price target increased by analysts at UBS Group from $208.00 to $217.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the aircraft producer's stock. UBS Group's price objective points to a potential upside of 21.84% from the stock's current price.

A number of other equities research analysts have also weighed in on the stock. Citigroup lowered their price target on shares of Boeing from $209.00 to $207.00 and set a "buy" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on Boeing from $195.00 to $190.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Benchmark reiterated a "buy" rating and set a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $195.00.

Boeing Stock Performance

Boeing stock traded up $4.44 during trading on Wednesday, hitting $178.10. The company's stock had a trading volume of 3,726,888 shares, compared to its average volume of 8,722,043. Boeing has a 1-year low of $137.03 and a 1-year high of $214.63. The stock's fifty day moving average is $168.24 and its 200 day moving average is $164.26. The stock has a market capitalization of $110.10 billion, a price-to-earnings ratio of -13.81 and a beta of 1.52.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the firm posted ($0.47) EPS. On average, research analysts anticipate that Boeing will post -16.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently modified their holdings of the company. Chaney Capital Management Inc. boosted its stake in shares of Boeing by 2.1% during the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer's stock worth $508,000 after acquiring an additional 58 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Boeing by 0.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer's stock valued at $1,878,000 after purchasing an additional 59 shares during the period. Center for Financial Planning Inc. increased its stake in Boeing by 12.0% in the 4th quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer's stock worth $99,000 after purchasing an additional 60 shares in the last quarter. Sterneck Capital Management LLC increased its stake in Boeing by 2.3% in the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer's stock worth $530,000 after purchasing an additional 66 shares in the last quarter. Finally, Peoples Financial Services CORP. raised its holdings in Boeing by 0.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer's stock worth $1,352,000 after buying an additional 67 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company Profile

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.