Susquehanna Lowers Boeing (NYSE:BA) Price Target to $210.00

Boeing (NYSE:BA) had its price objective reduced by equities researchers at Susquehanna from $230.00 to $210.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the aircraft producer’s stock. Susquehanna’s price target would indicate a potential upside of 35.22% from the company’s previous close.

BA has been the subject of several other reports. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company dropped their price target on Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research report on Monday. Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.32.

Boeing Price Performance

Shares of NYSE BA traded up $0.40 on Thursday, hitting $155.30. The company’s stock had a trading volume of 1,893,573 shares, compared to its average volume of 8,048,335. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54. The stock has a 50 day moving average of $161.63 and a 200-day moving average of $173.00. The company has a market capitalization of $95.34 billion, a price-to-earnings ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results 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 analyst estimates of $17.35 billion. During the same quarter in the previous year, the company posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Sell-side analysts expect that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC acquired a new stake in Boeing in the 1st quarter valued at about $272,312,000. Vanguard Group Inc. grew its position in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Boeing by 9,626.0% in the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares during the period. Wulff Hansen & CO. increased its position in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

About Boeing

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.