Susquehanna Forecasts Strong Price Appreciation for Boeing (NYSE:BA) Stock

Key Points

• Analysts at Susquehanna have raised Boeing's price target from $265.00 to $270.00, indicating a potential upside of 19.23% based on the current price.
• Boeing recently reported a quarterly loss of ($1.24) EPS, missing expectations, but revenue increased by 34.9% year over year, reaching $22.75 billion.
• The stock has been rated positively by multiple analysts, with a current consensus rating of "Moderate Buy" and an average target price of $224.41.

Boeing (NYSE:BA - Free Report) had its price objective upped by Susquehanna from $265.00 to $270.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a positive rating on the aircraft producer's stock.

Other equities analysts also recently issued research reports about the company. Benchmark dropped their price objective on Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Royal Bank Of Canada reiterated a "cautious" rating on shares of Boeing in a research note on Thursday, June 12th. KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Barclays set a $255.00 target price on shares of Boeing and gave the stock an "overweight" rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $229.18.

Boeing Stock Down 1.2%

BA stock traded down $2.70 during midday trading on Wednesday, reaching $219.14. 1,998,398 shares of the company's stock traded hands, compared to its average volume of 8,577,467. The firm's fifty day moving average price is $214.84 and its 200-day moving average price is $188.30. Boeing has a 52 week low of $128.88 and a 52 week high of $242.69. The company has a market cap of $165.71 billion, a price-to-earnings ratio of -13.27 and a beta of 1.41.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period in the prior year, the business earned ($2.90) EPS. The business's revenue was up 34.9% on a year-over-year basis. Analysts forecast that Boeing will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president owned 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC bought a new position in shares of Boeing in the fourth quarter worth approximately $568,000. Alyeska Investment Group L.P. purchased a new position in shares of Boeing in the fourth quarter valued at about $526,889,000. Zimmer Partners LP bought a new position in shares of Boeing during the fourth quarter valued at about $393,736,000. Kingstone Capital Partners Texas LLC bought a new position in Boeing during the 2nd quarter valued at approximately $378,459,000. Finally, Northern Trust Corp raised its position in shares of Boeing by 33.6% in the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares in the last quarter. 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.