Boeing (NYSE:BA) Price Target Cut to $195.00 by Analysts at Sanford C. Bernstein

Boeing (NYSE:BA) had its target price trimmed by Sanford C. Bernstein from $207.00 to $195.00 in a research report report published on Thursday morning, MarketBeat reports. The firm currently has an outperform rating on the aircraft producer’s stock.

Several other research analysts have also weighed in on BA. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Citigroup reduced their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Price Performance

BA opened at $155.00 on Thursday. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54. The business has a 50-day moving average of $161.10 and a two-hundred day moving average of $172.44. The stock has a market capitalization of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last released 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 company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.82) EPS. Equities research analysts anticipate that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Boeing by 2.5% in 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. Newport Trust Company LLC lifted its holdings in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.