Boeing (NYSE:BA) Price Target Lowered to $190.00 at TD Cowen

Boeing (NYSE:BA) had its price target reduced by TD Cowen from $200.00 to $190.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

A number of other analysts also recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company dropped their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.32.

Boeing Price Performance

NYSE BA opened at $155.31 on Monday. The company’s 50 day simple moving average is $161.36 and its 200 day simple moving average is $172.88. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54. The company has a market capitalization of $95.34 billion, a P/E ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm earned ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts anticipate that Boeing will post -5.35 earnings per share for the current year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the company. Madison Park Capital Advisors LLC lifted its stake in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the last quarter. Bridge Creek Capital Management LLC lifted its stake in shares of Boeing by 3.1% in the first quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock worth $383,000 after buying an additional 60 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares during the last quarter. Angeles Wealth Management LLC raised its stake in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the last quarter. Finally, IMS Capital Management raised its stake in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.