Boeing's (BA) "Positive" Rating Reaffirmed at Susquehanna

Key Points

• Susquehanna analysts have reaffirmed a "positive" rating for Boeing's stock, with a target price of $270.00, suggesting a potential upside of nearly 25% from its current price.
• JPMorgan and Barclays recently raised their target prices on Boeing's shares to $251.00 and $255.00 respectively, along with an overall consensus rating of "Moderate Buy" among analysts.
• Boeing reported a 34.9% year-over-year increase in revenue for the quarter, despite missing earnings expectations, demonstrating solid growth potential amidst ongoing challenges.

Boeing (NYSE:BA - Get Free Report)'s stock had its "positive" rating reaffirmed by analysts at Susquehanna in a research note issued to investors on Monday,Benzinga reports. They presently have a $270.00 target price on the aircraft producer's stock. Susquehanna's target price points to a potential upside of 24.93% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Boeing from $230.00 to $251.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Barclays upped their price objective on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. KGI Securities raised shares of Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Vertical Research raised shares of Boeing from a "hold" rating to a "buy" rating and increased their price target for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Boeing Stock Performance

Shares of Boeing stock opened at $216.12 on Monday. The company has a market capitalization of $163.42 billion, a P/E ratio of -13.09 and a beta of 1.48. The company has a fifty day moving average of $228.76 and a 200 day moving average of $199.57. Boeing has a fifty-two week low of $128.88 and a fifty-two week high of $242.69.

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

Insider Buying and Selling

In other news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, for a total transaction of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares of the company's stock, valued at approximately $497,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares in the company, valued at $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Boeing

Several large investors have recently bought and sold shares of the business. Wallace Advisory Group LLC increased its stake in Boeing by 1.2% during the 2nd quarter. Wallace Advisory Group LLC now owns 3,570 shares of the aircraft producer's stock valued at $748,000 after purchasing an additional 44 shares in the last quarter. Aspire Capital Advisors LLC boosted its holdings in shares of Boeing by 0.8% during the 2nd quarter. Aspire Capital Advisors LLC now owns 5,943 shares of the aircraft producer's stock valued at $1,245,000 after acquiring an additional 45 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Boeing by 1.5% in the second quarter. Lantz Financial LLC now owns 3,072 shares of the aircraft producer's stock worth $644,000 after buying an additional 46 shares during the last quarter. Blue Barn Wealth LLC boosted its holdings in shares of Boeing by 1.8% in the second quarter. Blue Barn Wealth LLC now owns 2,594 shares of the aircraft producer's stock worth $544,000 after buying an additional 46 shares during the last quarter. Finally, Atlas Brown Inc. boosted its holdings in shares of Boeing by 0.7% in the second quarter. Atlas Brown Inc. now owns 6,498 shares of the aircraft producer's stock worth $1,362,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors 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.

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