Boeing (NYSE:BA) Trading Down 0% Following Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price dropped 0% during mid-day trading on Thursday after Susquehanna lowered their price target on the stock from $230.00 to $210.00. Susquehanna currently has a positive rating on the stock. Boeing traded as low as $154.25 and last traded at $154.89. Approximately 1,760,615 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,047,674 shares. The stock had previously closed at $154.90.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $199.32.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing during the second quarter valued at approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

The stock has a market cap of $95.34 billion, a P/E ratio of -43.75 and a beta of 1.57. The firm’s 50-day moving average price is $161.36 and its 200-day moving average price is $172.88.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the company earned ($0.82) EPS. The business’s revenue was down 14.6% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

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.