Susquehanna Reaffirms Positive Rating for Boeing (NYSE:BA)

Boeing (NYSE:BA)‘s stock had its “positive” rating reiterated by stock analysts at Susquehanna in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $230.00 target price on the aircraft producer’s stock. Susquehanna’s target price indicates a potential upside of 36.84% from the company’s current price.

Several other analysts also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Barclays reduced their target price on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada reduced their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Wednesday, April 17th. Finally, UBS Group dropped their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Two equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.18.

Boeing Trading Down 0.4 %

Shares of BA traded down $0.68 during midday trading on Wednesday, reaching $168.08. The stock had a trading volume of 203,945 shares, compared to its average volume of 8,061,489. The firm has a 50 day simple moving average of $180.27 and a 200-day simple moving average of $184.99. Boeing has a one year low of $159.70 and a one year high of $267.54. The firm has a market cap of $103.18 billion, a PE ratio of -47.35 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the previous year, the business posted ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts forecast that Boeing will post -2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in BA. Flputnam Investment Management Co. grew its holdings in Boeing by 14.0% during the 4th quarter. Flputnam Investment Management Co. now owns 3,361 shares of the aircraft producer’s stock worth $876,000 after acquiring an additional 414 shares during the last quarter. SVB Wealth LLC grew its holdings in Boeing by 19.1% during the 4th quarter. SVB Wealth LLC now owns 20,839 shares of the aircraft producer’s stock worth $5,432,000 after acquiring an additional 3,339 shares during the last quarter. Imprint Wealth LLC bought a new stake in Boeing during the 4th quarter worth approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Boeing by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,557 shares of the aircraft producer’s stock worth $27,514,000 after acquiring an additional 3,797 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Boeing during the 4th quarter worth approximately $580,000. 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.