Boeing (NYSE:BA) Earns Positive Rating from 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.

Susquehanna reaffirmed their positive rating on shares of Boeing (NYSE:BA - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $270.00 target price on the aircraft producer's stock.

BA has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Citigroup reissued a "buy" rating on shares of Boeing in a report on Monday, July 28th. TD Securities lowered shares of Boeing to a "cautious" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $212.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boeing has an average rating of "Moderate Buy" and a consensus price target of $230.77.

Boeing Price Performance

Shares of NYSE BA traded down $1.30 during mid-day trading on Monday, hitting $214.36. The company had a trading volume of 5,734,349 shares, compared to its average volume of 8,183,711. The business's 50-day simple moving average is $228.19 and its 200-day simple moving average is $200.38. Boeing has a 12 month low of $128.88 and a 12 month high of $242.69. The firm has a market cap of $162.09 billion, a P/E ratio of -12.98 and a beta of 1.48.

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

Insider Buying and Selling

In other Boeing news, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares in the company, valued at $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mortimer J. Buckley bought 2,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the transaction, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Boeing

Institutional investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in Boeing during the 4th quarter worth $201,000. Bank Pictet & Cie Europe AG acquired a new position in Boeing in the fourth quarter valued at approximately $7,837,000. Tidal Investments LLC boosted its holdings in Boeing by 156.7% in the fourth quarter. Tidal Investments LLC now owns 98,154 shares of the aircraft producer's stock valued at $17,373,000 after purchasing an additional 59,924 shares in the last quarter. Vivaldi Capital Management LP boosted its holdings in shares of Boeing by 5.4% in the fourth quarter. Vivaldi Capital Management LP now owns 6,527 shares of the aircraft producer's stock valued at $1,143,000 after acquiring an additional 336 shares during the period. Finally, Vident Advisory LLC lifted its holdings in shares of Boeing by 21.9% during the fourth quarter. Vident Advisory LLC now owns 8,879 shares of the aircraft producer's stock worth $1,572,000 after purchasing an additional 1,595 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.