Canaccord Genuity Keeps Their Hold Rating on Boeing

By Ryan Adsit

Canaccord Genuity analyst Kenneth Herbert reiterated a Hold rating on Boeing (NYSE: BA) yesterday and set a price target of $170. The company’s shares closed yesterday at $185.25, close to its 52-week high of $187.21.

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 8.2% and a 58.0% success rate. Herbert covers the Industrial Goods sector, focusing on stocks such as Transdigm Group Inc, CPI Aerostructures, and Spirit AeroSystems.

Boeing has an analyst consensus of Moderate Buy, with a price target consensus of $190.83.

Based on Boeing’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $20.98 billion and quarterly net profit of $1.45 billion. In comparison, last year the company earned revenue of $22.63 billion and had a net profit of $1.22 billion.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Timothy John Keating, the SVP, Government Operations of BA sold 32,500 shares for a total of $5,996,575.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.