JPMorgan Chase & Co. Cuts Boeing (NYSE:BA) Price Target to $195.00

Boeing (NYSE:BA) had its target price reduced by JPMorgan Chase & Co. from $235.00 to $195.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the aircraft producer’s stock.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein lowered their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Stifel Nicolaus increased their price objective 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.32.

Boeing Price Performance

Shares of NYSE BA opened at $155.31 on Monday. The business has a 50-day moving average of $161.36 and a 200-day moving average of $172.88. The stock has a market capitalization of $95.34 billion, a price-to-earnings ratio of -43.75 and a beta of 1.57. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last posted 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 business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.82) earnings per share. On average, sell-side analysts expect that Boeing will post -5.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Madison Park Capital Advisors LLC increased its position in Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares in the last quarter. Bridge Creek Capital Management LLC lifted its stake in shares of Boeing by 3.1% in the 1st quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock valued at $383,000 after acquiring an additional 60 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in shares of Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares in the last quarter. Finally, IMS Capital Management raised its position in Boeing by 0.4% in the second 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. Institutional investors own 64.82% of the company’s stock.

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.