Boeing (BA) Coverage Initiated by Analysts at Susquehanna Bancshares

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Susquehanna Bancshares began coverage on shares of Boeing (NYSE:BA) in a report released on Thursday. The brokerage set a “positive” rating and a $388.00 price target on the aircraft producer’s stock. Susquehanna Bancshares’ target price would suggest a potential upside of 12.21% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Cowen restated a “buy” rating and issued a $445.00 target price on shares of Boeing in a research note on Tuesday, November 13th. Jefferies Financial Group set a $420.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Tuesday, November 13th. Societe Generale set a $409.00 target price on shares of Boeing and gave the company a “buy” rating in a research note on Thursday, October 25th. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $407.00 target price for the company in a research note on Friday, October 26th. Finally, ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $411.36.

Shares of Boeing stock traded up $1.94 during trading hours on Thursday, hitting $345.77. The company’s stock had a trading volume of 1,041,527 shares, compared to its average volume of 4,402,777. Boeing has a 1-year low of $292.47 and a 1-year high of $394.28. The firm has a market capitalization of $185.74 billion, a P/E ratio of 28.72, a PEG ratio of 1.36 and a beta of 1.24.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.11. Boeing had a net margin of 10.36% and a negative return on equity of 4,176.41%. The company had revenue of $25.15 billion during the quarter, compared to analyst estimates of $23.84 billion. During the same quarter in the prior year, the business earned $2.72 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Boeing will post 15.04 earnings per share for the current fiscal year.

Boeing declared that its board has approved a share buyback plan on Monday, December 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other Boeing news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $350.07, for a total transaction of $1,750,350.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $367.52, for a total transaction of $602,732.80. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Several large investors have recently modified their holdings of the business. Smith Asset Management Group LP grew its holdings in Boeing by 5.5% during the second quarter. Smith Asset Management Group LP now owns 290,955 shares of the aircraft producer’s stock worth $97,653,000 after buying an additional 15,274 shares in the last quarter. Emerald Investment Partners LLC grew its holdings in Boeing by 980.5% during the second quarter. Emerald Investment Partners LLC now owns 20,951 shares of the aircraft producer’s stock valued at $677,000 after purchasing an additional 19,012 shares during the period. Wellington Shields & Co. LLC lifted its position in shares of Boeing by 23.7% in the second quarter. Wellington Shields & Co. LLC now owns 4,430 shares of the aircraft producer’s stock worth $1,486,000 after buying an additional 850 shares in the last quarter. Northern Capital Management LLC purchased a new stake in Boeing during the second quarter valued at approximately $490,000. Finally, West Branch Capital LLC grew its stake in Boeing by 28.0% in the second quarter. West Branch Capital LLC now owns 12,823 shares of the aircraft producer’s stock worth $4,302,000 after purchasing an additional 2,807 shares in the last quarter. 69.61% of the stock is currently owned by institutional investors.

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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