Boeing (NYSE:BA) Price Target Lowered to $190.00 at JPMorgan Chase & Co.

Boeing (NYSE:BA) had its price target cut by JPMorgan Chase & Co. from $195.00 to $190.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the aircraft producer’s stock.

Other analysts have also issued research reports about the company. Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Price Performance

Boeing stock opened at $152.42 on Monday. The firm has a fifty day moving average price of $151.48 and a two-hundred day moving average price of $167.77. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The firm has a market cap of $94.23 billion, a price-to-earnings ratio of -11.82 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the previous year, the company posted ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Boeing will post -16.2 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing in the 3rd quarter valued at $28,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing during the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.