Boeing (NYSE:BA) Given New $240.00 Price Target at TD Cowen

Boeing (NYSE:BA) had its target price decreased by equities research analysts at TD Cowen from $250.00 to $240.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the aircraft producer’s stock. TD Cowen’s price objective would indicate a potential upside of 25.78% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $300.00 in a research note on Monday, August 3rd. Citigroup downgraded Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada lowered their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of Boeing in a research report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $270.86.

Boeing Price Performance

Shares of BA stock traded up $3.05 during midday trading on Friday, reaching $190.80. 1,820,112 shares of the company traded hands, compared to its average volume of 6,839,456. The firm has a market cap of $150.80 billion, a PE ratio of 82.60 and a beta of 1.26. The firm’s 50 day simple moving average is $210.22 and its two-hundred day simple moving average is $216.03. Boeing has a 1-year low of $176.77 and a 1-year high of $254.35. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.33.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company had revenue of $24.56 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same period in the prior year, the business earned ($1.24) earnings per share. Boeing’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Boeing will post -0.91 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors have recently modified their holdings of BA. McAlister Sweet & Associates Inc. boosted its stake in Boeing by 57.2% during the third quarter. McAlister Sweet & Associates Inc. now owns 45,420 shares of the aircraft producer’s stock worth $8,450,000 after buying an additional 16,531 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Boeing by 16.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 42,417 shares of the aircraft producer’s stock worth $9,182,000 after purchasing an additional 5,862 shares during the last quarter. Rakuten Investment Management Inc. grew its stake in Boeing by 502.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 103,099 shares of the aircraft producer’s stock worth $22,398,000 after purchasing an additional 85,982 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Boeing in the first quarter valued at $7,961,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Boeing by 103.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 11,240 shares of the aircraft producer’s stock worth $2,237,000 after acquiring an additional 5,726 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Commercial order momentum: Avolon agreed to purchase 140 Boeing 737 MAX aircraft as part of a larger order that also includes Airbus jets. The deal reinforces demand for Boeing’s narrow-body aircraft and adds to its already substantial order pipeline. Avolon Orders 140 Boeing 737 MAX, 110 Airbus Aircraft
• Positive Sentiment: Potential wide-body customer: Southwest Airlines is reportedly leaning toward Boeing’s 787 Dreamliner if it launches long-haul international service. A selection would provide a meaningful new customer opportunity for the 787 program, although no final decision has been announced. Southwest Airlines weighs Boeing 787 for long-haul international push
• Positive Sentiment: Defense growth prospects: Boeing could benefit from rising demand for infrared search-and-track systems as the U.S. and allies invest in passive sensing and threat detection. Separately, its approximately $14.7 billion, seven-year PAC-3 seeker production arrangement with Lockheed Martin could triple output and strengthen Boeing’s defense backlog. Can Rising IRST Demand Support Boeing’s Defense Growth Outlook?
• Neutral Sentiment: Large backlog, but execution matters: Boeing’s roughly $715 billion backlog offers long-term revenue visibility, but aircraft must still be produced and delivered. Production delays, cash requirements and the difference between orders and recognized revenue limit the immediate benefit to shareholders. Boeing’s $715 Billion Backlog, Explained
• Negative Sentiment: Balance-sheet pressure: Analysts warn that sizable debt repayments are approaching. Boeing’s high leverage and limited quick liquidity could constrain investment and amplify refinancing risk. Concerns about production delays and poor returns on invested capital add to the cautious outlook. Boeing Faces a Debt Wall as Big Repayments Draw Closer
• Negative Sentiment: Operational and valuation risks: Commentary highlights that Boeing’s backlog has not yet translated into sufficient deliveries, profitability or returns. The company also faces an elevated valuation relative to current earnings, leaving the stock vulnerable if production recovery or debt reduction progresses slowly. Boeing Down 10.6% in a Month: Is This an Indication to Sell the Stock?

Boeing Company Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.