The Boeing Company (NYSE:BA – Get Free Report) shares dropped 0.6% during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $119.00 to $110.00. Wells Fargo & Company currently has an underweight rating on the stock. Boeing traded as low as $152.88 and last traded at $153.28. Approximately 1,186,314 shares changed hands during trading, a decline of 85% from the average daily volume of 8,025,655 shares. The stock had previously closed at $154.22.
Several other equities research analysts have also recently issued reports on BA. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Robert W. Baird dropped their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. TD Cowen decreased their target price on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.67.
Hedge Funds Weigh In On Boeing
Boeing Stock Performance
The company has a 50 day moving average price of $167.34 and a 200 day moving average price of $175.70. The company has a market capitalization of $94.10 billion, a PE ratio of -43.18 and a beta of 1.57.
Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.82) EPS. On average, equities analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal 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.
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