Boeing’s (BA) Buy Rating Reiterated at Goldman Sachs Group

Goldman Sachs Group reissued their buy rating on shares of Boeing (NYSE:BA) in a research note issued to investors on Thursday morning, Borsen Zeitung reports. Goldman Sachs Group currently has a $225.00 target price on the aircraft producer’s stock.

BA has been the subject of a number of other reports. Susquehanna Bancshares upped their price objective on shares of Boeing from $175.00 to $240.00 in a research report on Thursday, June 11th. TheStreet cut Boeing from a c- rating to a d rating in a research note on Wednesday, April 29th. Sanford C. Bernstein downgraded Boeing from an outperform rating to a market perform rating and set a $165.00 price objective on the stock. in a report on Friday, June 26th. Cowen reiterated a hold rating on shares of Boeing in a research report on Sunday, June 7th. Finally, Wolfe Research cut Boeing from a peer perform rating to an underperform rating and set a $149.00 price target on the stock. in a report on Thursday, July 16th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. Boeing currently has a consensus rating of Hold and a consensus price target of $217.38.

Shares of NYSE:BA opened at $158.00 on Thursday. The company’s 50 day simple moving average is $180.12 and its 200 day simple moving average is $204.01. Boeing has a 1 year low of $89.00 and a 1 year high of $391.00. The stock has a market capitalization of $89.18 billion, a price-to-earnings ratio of -31.29 and a beta of 1.47.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the consensus estimate of ($2.93) by ($1.86). The business had revenue of $11.81 billion for the quarter, compared to the consensus estimate of $12.95 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. Boeing’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($5.82) earnings per share. As a group, sell-side analysts predict that Boeing will post -6.26 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in BA. Public Investment Fund bought a new position in Boeing in the first quarter worth approximately $713,677,000. Capital World Investors raised its position in shares of Boeing by 15.1% during the first quarter. Capital World Investors now owns 30,555,090 shares of the aircraft producer’s stock worth $4,556,991,000 after purchasing an additional 3,997,531 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Boeing by 372,990.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 3,152,612 shares of the aircraft producer’s stock worth $470,180,000 after purchasing an additional 3,151,767 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Boeing in the 1st quarter valued at $48,135,000. Finally, Capital International Investors increased its stake in Boeing by 7.7% during the 1st quarter. Capital International Investors now owns 10,734,838 shares of the aircraft producer’s stock valued at $1,600,997,000 after purchasing an additional 769,205 shares in the last quarter. 61.66% of the stock is currently 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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Analyst Recommendations for Boeing (NYSE:BA)

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