Boeing (NYSE:BA) Stock Rating Reaffirmed by Wells Fargo & Company

Boeing (NYSE:BA)‘s stock had its “underweight” rating reissued by investment analysts at Wells Fargo & Company in a research note issued on Tuesday, Marketbeat reports. They presently have a $119.00 target price on the aircraft producer’s stock, down from their prior target price of $185.00. Wells Fargo & Company‘s target price indicates a potential downside of 27.09% from the company’s previous close.

Several other research analysts have also commented on BA. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Sanford C. Bernstein decreased their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Robert W. Baird cut their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Price Performance

NYSE:BA opened at $163.21 on Tuesday. The stock has a market cap of $100.19 billion, a PE ratio of -45.97 and a beta of 1.56. Boeing has a fifty-two week low of $158.30 and a fifty-two week high of $267.54. The stock’s 50-day moving average is $177.43 and its two-hundred day moving average is $181.26.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the business earned ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Boeing will post -4.26 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the 4th quarter valued at $26,000. Vima LLC acquired a new stake in shares of Boeing in the fourth quarter valued at $34,000. Accent Capital Management LLC bought a new position in shares of Boeing in the fourth quarter valued at about $39,000. Frank Rimerman Advisors LLC bought a new position in shares of Boeing in the fourth quarter valued at about $48,000. Finally, Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter worth about $34,000. Institutional investors and hedge funds 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.