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

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

Other analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a research note on Thursday, February 1st. Stifel Nicolaus initiated coverage on shares of Boeing in a research note on Friday, December 1st. They issued a buy rating and a $265.00 price objective for the company. Susquehanna dropped their target price 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. Edward Jones lowered shares of Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. Finally, Royal Bank of Canada dropped their target price on shares of Boeing from $285.00 to $260.00 and set an outperform rating on the stock in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $242.65.

Boeing Stock Performance

Shares of BA opened at $191.96 on Monday. The company’s 50 day moving average price is $200.81 and its 200 day moving average price is $209.96. Boeing has a 52 week low of $176.25 and a 52 week high of $267.54. The company has a market capitalization of $117.12 billion, a PE ratio of -51.89, a PEG ratio of 30.94 and a beta of 1.52.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) 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 analyst estimates of $21.14 billion. During the same quarter last year, the firm earned ($1.75) earnings per share. Boeing’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that Boeing will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Bollard Group LLC boosted its position in shares of Boeing by 10.6% during the 2nd quarter. Bollard Group LLC now owns 469 shares of the aircraft producer’s stock valued at $99,000 after acquiring an additional 45 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Boeing by 1.0% during the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after acquiring an additional 45 shares during the last quarter. Benchmark Financial Wealth Advisors LLC boosted its position in shares of Boeing by 2.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after acquiring an additional 47 shares during the last quarter. Waverly Advisors LLC boosted its position in shares of Boeing by 0.6% during the 4th quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock valued at $1,527,000 after acquiring an additional 49 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its position in shares of Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.