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

Boeing (NYSE:BA) had its target price raised by investment analysts at UBS Group from $208.00 to $217.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. UBS Group’s target price would suggest a potential upside of 23.67% from the company’s current price.

A number of other analysts have also recently issued reports on BA. JPMorgan Chase & Co. reduced their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Susquehanna lowered their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Citigroup decreased their price objective on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.21.

Boeing Stock Performance

Shares of Boeing stock traded down $2.31 during trading on Wednesday, hitting $175.47. 1,397,414 shares of the stock were exchanged, compared to its average volume of 8,381,928. The stock’s fifty day moving average is $167.68 and its 200 day moving average is $164.19. The stock has a market cap of $108.48 billion, a PE ratio of -13.60 and a beta of 1.52. Boeing has a 12 month low of $137.03 and a 12 month high of $214.63.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the business earned ($0.47) EPS. Sell-side analysts anticipate that Boeing will post -16.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in Boeing during the 4th quarter worth $28,000. Cedar Wealth Management LLC bought a new position in shares of Boeing in the third quarter worth $30,000. Finally, Heck Capital Advisors LLC bought a new position in Boeing in the 4th quarter valued at about $33,000. Institutional investors own 64.82% of the company’s stock.

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.