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

Boeing (NYSE:BA) had its target price dropped by analysts at TD Cowen from $275.00 to $230.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the aircraft producer’s stock. TD Cowen’s price target suggests a potential upside of 22.65% from the company’s current price.

BA has been the topic of several other research reports. William Blair started coverage on shares of Boeing in a research report on Tuesday, December 12th. They issued an “outperform” rating on the stock. Bank of America cut their price objective on shares of Boeing from $225.00 to $210.00 and set a “neutral” rating on the stock in a research 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. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, UBS Group cut their price objective 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $242.65.

Boeing Stock Performance

Shares of BA opened at $187.53 on Monday. The company’s fifty day moving average is $201.07 and its 200 day moving average is $210.13. Boeing has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The stock has a market capitalization of $114.42 billion, a PE ratio of -50.96, a P/E/G ratio of 24.80 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the firm posted ($1.75) EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Boeing will post 1.9 earnings per share for the current year.

Institutional Trading of Boeing

Hedge funds have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing in the fourth quarter worth about $28,000. Evolution Advisers Inc. purchased a new stake in Boeing in the fourth quarter worth about $28,000. CNB Bank lifted its stake in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares during the period. Finally, Vima LLC purchased a new stake in Boeing in the fourth quarter worth about $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.