Boeing (NYSE:BA) PT Lowered to $209.00

Boeing (NYSE:BA) had its target price lowered by equities research analysts at Citigroup from $224.00 to $209.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price target suggests a potential upside of 34.96% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Susquehanna reissued a “positive” rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus boosted their target price 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. Finally, Sanford C. Bernstein decreased their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Boeing Trading Up 1.6 %

NYSE BA opened at $154.86 on Tuesday. The firm’s fifty day simple moving average is $161.63 and its two-hundred day simple moving average is $173.00. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54. The firm has a market capitalization of $95.07 billion, a P/E ratio of -43.62 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) earnings per share. As a group, sell-side analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% during 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 increased its stake in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.