Boeing (NYSE:BA) PT Lowered to $86.00

Boeing (NYSE:BA) had its price target cut by stock analysts at Wells Fargo & Company from $109.00 to $86.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 44.51% from the stock’s previous close.

A number of other brokerages have also recently weighed in on BA. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna decreased their price objective on Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Trading Down 0.1 %

Shares of BA stock opened at $154.97 on Thursday. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The stock has a market capitalization of $95.13 billion, a price-to-earnings ratio of -43.93 and a beta of 1.57. The stock has a fifty day simple moving average of $160.18 and a two-hundred day simple moving average of $171.89.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($3.26) EPS. Research analysts predict that Boeing will post -5.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several large investors have recently made changes to their positions in the company. Madison Park Capital Advisors LLC lifted its stake in shares of Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC lifted its stake in shares of Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC lifted its stake in shares of Boeing by 4.2% in 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 period. IMS Capital Management lifted its stake in shares of Boeing by 0.4% in 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 period. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Boeing by 0.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after purchasing an additional 65 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.