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

Boeing (NYSE:BA) had its price objective cut by TD Cowen from $275.00 to $230.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the aircraft producer’s stock.

Several other equities analysts also recently commented on the company. Bank of America cut their target price on Boeing from $225.00 to $210.00 and set a neutral rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada reduced their target price on shares of Boeing from $285.00 to $260.00 and set an outperform rating on the stock in a research note on Thursday, February 1st. Edward Jones cut shares of Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. Susquehanna reduced their price target on shares of Boeing from $265.00 to $230.00 and set a positive rating on the stock in a research report on Thursday, March 21st. Finally, William Blair assumed coverage on shares of Boeing in a report on Tuesday, December 12th. They set an outperform rating for the company. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Boeing has an average rating of Moderate Buy and an average target price of $241.53.

Boeing Price Performance

BA opened at $192.83 on Monday. Boeing has a fifty-two week low of $176.25 and a fifty-two week high of $267.54. The company has a market capitalization of $117.65 billion, a P/E ratio of -52.40, a P/E/G ratio of 30.31 and a beta of 1.52. The firm’s fifty day moving average price is $200.59 and its two-hundred day moving average price is $209.84.

Boeing (NYSE:BA) last posted its earnings results 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 the consensus estimate of $21.14 billion. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.75) EPS. On average, equities research analysts expect that Boeing will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CNB Bank boosted its holdings in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Boeing during the 4th quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new position in Boeing during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the fourth quarter valued at approximately $28,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in Boeing in the second quarter worth $32,000. 64.82% of the stock is currently owned by 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.