Boeing (NYSE:BA) Price Target Lowered to $419.00 at Cowen

Boeing (NYSE:BA) had its price objective cut by equities researchers at Cowen from $445.00 to $419.00 in a research note issued on Monday, The Fly reports. The firm currently has an “outperform” rating on the aircraft producer’s stock. Cowen’s price objective would suggest a potential upside of 19.30% from the company’s current price.

BA has been the topic of a number of other research reports. Morgan Stanley cut their target price on Boeing from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Canaccord Genuity lowered their price target on Boeing from $380.00 to $370.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Boeing in a research note on Wednesday, October 23rd. Buckingham Research reiterated a “hold” rating and issued a $365.00 price objective (down previously from $395.00) on shares of Boeing in a report on Tuesday, October 29th. Finally, Barclays reissued an “equal weight” rating and set a $353.00 target price (down previously from $367.00) on shares of Boeing in a research note on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Boeing has a consensus rating of “Hold” and a consensus price target of $375.16.

Boeing stock opened at $351.21 on Monday. The company’s 50 day simple moving average is $355.90 and its 200-day simple moving average is $358.33. The company has a market capitalization of $199.28 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 41.11 and a beta of 1.24. Boeing has a 1 year low of $292.47 and a 1 year high of $446.01. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.31 and a current ratio of 1.11.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported $1.45 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.59). Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The company had revenue of $19.98 billion during the quarter, compared to analyst estimates of $20 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. The business’s revenue was down 20.5% compared to the same quarter last year. Equities analysts expect that Boeing will post 1.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 1 North Wealth Services LLC acquired a new stake in shares of Boeing during the 3rd quarter worth about $32,000. Atwater Malick LLC acquired a new position in Boeing in the third quarter valued at approximately $39,000. Transamerica Financial Advisors Inc. acquired a new position in Boeing in the second quarter valued at approximately $40,000. Veritas Investment Management LLP acquired a new position in Boeing in the third quarter valued at approximately $40,000. Finally, Next Capital Management LLC purchased a new position in Boeing in the second quarter valued at approximately $42,000. Institutional investors own 68.48% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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