Boeing (NYSE:BA) Price Target Cut to $207.00

Boeing (NYSE:BA) had its price objective reduced by Sanford C. Bernstein from $222.00 to $207.00 in a research note published on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the aircraft producer’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Boeing from a hold rating to a sell rating in a research note on Friday, April 26th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a buy rating on the stock in a report on Friday, June 7th. Citigroup decreased their price objective on Boeing from $252.00 to $224.00 and set a buy rating for the company in a report on Thursday, April 25th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reduced their target price on Boeing from $235.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $215.18.

Boeing Stock Performance

Shares of BA opened at $168.87 on Monday. The stock has a market capitalization of $103.67 billion, a PE ratio of -47.57 and a beta of 1.56. The company’s fifty day moving average is $181.28 and its 200 day moving average is $186.22. Boeing has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts forecast that Boeing will post -2.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing during the 4th quarter worth about $26,000. Evolution Advisers Inc. bought a new stake in Boeing during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing during the fourth quarter valued at approximately $28,000. Vima LLC bought a new position in Boeing in the fourth quarter valued at approximately $34,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds 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.