TD Cowen Cuts Boeing (NYSE:BA) Price Target to $230.00

Boeing (NYSE:BA) had its target price lowered by TD Cowen from $275.00 to $230.00 in a report released on Monday morning, Benzinga reports. TD Cowen currently has an outperform rating on the aircraft producer’s stock.

A number of other analysts also recently issued reports on BA. Susquehanna dropped their price objective on shares of Boeing from $265.00 to $230.00 and set a positive rating for the company in a report on Thursday, March 21st. Northcoast Research cut shares of Boeing from a buy rating to a neutral rating in a research report on Friday, February 23rd. William Blair started coverage on shares of Boeing in a research report on Tuesday, December 12th. They issued an outperform rating on the stock. UBS Group decreased their target price on shares of Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, March 21st. Finally, Wells Fargo & Company decreased their target price on shares of Boeing from $225.00 to $215.00 and set an equal weight rating on the stock in a research report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $242.65.

Boeing Stock Up 2.4 %

Shares of BA stock opened at $191.96 on Monday. The company has a 50 day moving average of $200.81 and a 200-day moving average of $209.96. Boeing has a 12-month low of $176.25 and a 12-month high of $267.54. The firm has a market cap of $117.12 billion, a P/E ratio of -51.89, a PEG ratio of 30.94 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the firm posted ($1.75) earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Boeing will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors have recently made changes to their positions in the company. United Bank increased its position in Boeing by 4.7% during the 1st quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after purchasing an additional 226 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Boeing by 1,064.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after purchasing an additional 777 shares during the period. Panagora Asset Management Inc. increased its position in Boeing by 68.0% during the 1st quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after purchasing an additional 2,879 shares during the period. Prudential PLC purchased a new position in Boeing during the 1st quarter valued at about $836,000. Finally, Dakota Wealth Management increased its position in Boeing by 26.7% during the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after purchasing an additional 448 shares during the period. Institutional investors own 64.82% of the company’s stock.

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.