Boeing (NYSE:BA) Rating Lowered to Neutral at Credit Suisse Group

Boeing (NYSE:BA) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat reports. They currently have a $323.00 price target on the aircraft producer’s stock, down from their previous price target of $416.00. Credit Suisse Group’s price objective suggests a potential downside of 4.15% from the company’s current price.

Several other research analysts also recently commented on BA. UBS Group downgraded Boeing from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $470.00 to $375.00 in a research note on Monday. Barclays set a $367.00 target price on Boeing and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Robert W. Baird reaffirmed an “outperform” rating and issued a $445.00 target price (down from $470.00) on shares of Boeing in a research note on Wednesday, October 2nd. They noted that the move was a valuation call. Canaccord Genuity dropped coverage on Boeing in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their target price on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $388.79.

NYSE BA opened at $337.00 on Monday. The business has a fifty day moving average price of $371.21 and a 200 day moving average price of $361.49. Boeing has a one year low of $292.47 and a one year high of $446.01. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The company has a market cap of $193.57 billion, a P/E ratio of 21.05, a P/E/G ratio of 12.08 and a beta of 1.25.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same period in the prior year, the company earned $3.33 EPS. The firm’s revenue was down 35.1% compared to the same quarter last year. As a group, sell-side analysts predict that Boeing will post 3.26 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors boosted its holdings in Boeing by 0.4% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 6,730 shares of the aircraft producer’s stock valued at $2,560,000 after acquiring an additional 29 shares during the period. Pflug Koory LLC boosted its holdings in Boeing by 0.6% during the 3rd quarter. Pflug Koory LLC now owns 5,398 shares of the aircraft producer’s stock valued at $2,054,000 after acquiring an additional 30 shares during the period. CFO4Life Group LLC boosted its holdings in Boeing by 5.2% during the 2nd quarter. CFO4Life Group LLC now owns 627 shares of the aircraft producer’s stock valued at $228,000 after acquiring an additional 31 shares during the period. Scott & Selber Inc. boosted its holdings in Boeing by 0.4% during the 3rd quarter. Scott & Selber Inc. now owns 7,140 shares of the aircraft producer’s stock valued at $2,717,000 after acquiring an additional 31 shares during the period. Finally, Accredited Investors Inc. boosted its holdings in Boeing by 2.0% during the 2nd quarter. Accredited Investors Inc. now owns 1,607 shares of the aircraft producer’s stock valued at $585,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.

About Boeing

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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Analyst Recommendations for Boeing (NYSE:BA)

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