Boeing (NYSE:BA) Cut to “Hold” at DZ Bank

DZ Bank cut shares of Boeing (NYSE:BA) from a buy rating to a hold rating in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has $152.00 price target on the aircraft producer’s stock.

A number of other brokerages have also recently commented on BA. Stifel Nicolaus lifted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company reduced their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday, October 14th. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Performance

Shares of BA stock opened at $155.00 on Tuesday. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm has a market capitalization of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57. The stock’s 50-day simple moving average is $161.10 and its 200-day simple moving average is $172.64.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share 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 the consensus estimate of $17.35 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) earnings per share. As a group, equities analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Boeing in the 4th quarter valued at about $376,000. Park National Corp OH increased its holdings in shares of Boeing by 3.6% in the first quarter. Park National Corp OH now owns 4,459 shares of the aircraft producer’s stock valued at $861,000 after purchasing an additional 155 shares during the last quarter. Advance Capital Management Inc. lifted its position in Boeing by 11.8% during the first quarter. Advance Capital Management Inc. now owns 1,197 shares of the aircraft producer’s stock worth $231,000 after buying an additional 126 shares in the last quarter. CWM LLC grew its holdings in Boeing by 14.4% in the 1st quarter. CWM LLC now owns 24,739 shares of the aircraft producer’s stock valued at $4,774,000 after buying an additional 3,108 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of Boeing by 14.2% in the 1st quarter. Tompkins Financial Corp now owns 884 shares of the aircraft producer’s stock worth $171,000 after acquiring an additional 110 shares during 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.