Boeing (NYSE:BA) Stock Price Down 0.5% After Analyst Downgrade

The Boeing Company (NYSE:BAGet Free Report) fell 0.5% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $174.37 and last traded at $177.57. 4,170,519 shares changed hands during trading, a decline of 45% from the average session volume of 7,614,595 shares. The stock had previously closed at $178.50.

BA has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Finally, UBS Group cut their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

Check Out Our Latest Analysis on Boeing

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of the company. IMS Capital Management boosted its position in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares during the last quarter. Sterneck Capital Management LLC boosted its holdings in shares of Boeing by 2.3% in the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock valued at $530,000 after buying an additional 66 shares during the last quarter. Peoples Financial Services CORP. boosted its holdings in shares of Boeing by 0.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the last quarter. GSG Advisors LLC boosted its holdings in shares of Boeing by 4.7% in the 4th quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock valued at $264,000 after buying an additional 67 shares during the last quarter. Finally, Bay Rivers Group boosted its holdings in shares of Boeing by 1.0% in the 4th quarter. Bay Rivers Group now owns 7,416 shares of the aircraft producer’s stock valued at $1,313,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

The company has a market cap of $108.77 billion, a price-to-earnings ratio of -13.64 and a beta of 1.52. The firm has a fifty day moving average price of $166.42 and a 200 day moving average price of $164.56.

Boeing (NYSE:BAGet Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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 the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm earned ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -16.39 EPS for the current fiscal year.

About Boeing

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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.

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