Boeing (NYSE:BA) Hits New 52-Week Low on Analyst Downgrade

The Boeing Company (NYSE:BA) hit a new 52-week low on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $240.00 to $225.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as low as $160.61 and last traded at $161.66, with a volume of 3521363 shares. The stock had previously closed at $164.33.

Several other equities research analysts also recently weighed in on BA. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. Stifel Nicolaus decreased their target price on shares of Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. TD Cowen decreased their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 25th. Barclays decreased their target price on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Bank of America decreased their target price on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.06.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of BA. CNB Bank increased its stake in shares of Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing in the 4th quarter worth about $26,000. Evolution Advisers Inc. bought a new position in shares of Boeing in the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Boeing in the 4th quarter worth about $28,000. Finally, Vima LLC bought a new position in shares of Boeing in the 4th quarter worth about $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 1.5 %

The firm has a market capitalization of $101.78 billion, a P/E ratio of -44.56, a price-to-earnings-growth ratio of 133.97 and a beta of 1.52. The business’s 50 day simple moving average is $188.03 and its two-hundred day simple moving average is $206.89.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the business posted ($1.75) earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that The Boeing Company will post 0.32 EPS for the current fiscal year.

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.