Morgan Stanley Cuts Boeing (NYSE:BA) Price Target to $170.00

Boeing (NYSE:BA) had its price target dropped by equities research analysts at Morgan Stanley from $195.00 to $170.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the aircraft producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.70% from the stock’s current price.

BA has been the topic of several other research reports. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus raised 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. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Trading Down 0.1 %

Shares of BA stock opened at $154.97 on Thursday. The company has a market capitalization of $95.13 billion, a P/E ratio of -43.93 and a beta of 1.57. The business’s 50 day moving average is $160.18 and its two-hundred day moving average is $171.89. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. On average, research analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Madison Park Capital Advisors LLC lifted its holdings in Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its holdings in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after buying an additional 61 shares during the last quarter. IMS Capital Management lifted its holdings 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 buying an additional 62 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in Boeing by 0.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.