Boeing (NYSE:BA) Price Target Cut to $202.00

Boeing (NYSE:BA) had its target price dropped by research analysts at The Goldman Sachs Group from $232.00 to $202.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the aircraft producer’s stock. The Goldman Sachs Group’s price target points to a potential upside of 31.25% from the stock’s previous close.

Several other equities research analysts have also issued reports on BA. Sanford C. Bernstein lowered their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $209.83.

Boeing Stock Performance

Shares of Boeing stock traded down $2.40 on Tuesday, reaching $153.90. The stock had a trading volume of 2,419,456 shares, compared to its average volume of 7,970,326. The stock has a market cap of $94.48 billion, a P/E ratio of -43.35 and a beta of 1.57. Boeing has a fifty-two week low of $151.65 and a fifty-two week high of $267.54. The business’s 50-day moving average price is $170.76 and its two-hundred day moving average price is $177.08.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. As a group, equities analysts forecast that Boeing will post -4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its position in Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP boosted its position in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Boeing during the first quarter worth approximately $272,312,000. Finally, Vanguard Group Inc. boosted its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.