Boeing (NYSE:BA) Price Target Cut to $200.00

Boeing (NYSE:BA) had its target price trimmed by TD Cowen from $230.00 to $200.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the aircraft producer’s stock.

Several other research firms also recently weighed in on BA. Sanford C. Bernstein decreased their price target on shares of Boeing from $222.00 to $207.00 and set an outperform rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research note on Thursday, August 1st. The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a buy rating for the company in a research report on Tuesday, September 24th. UBS Group reduced their price objective on Boeing from $250.00 to $240.00 and set a buy rating on the stock in a research report on Friday, June 7th. Finally, Bank of America upped their target price on Boeing from $180.00 to $200.00 and gave the company a neutral rating in a report on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $206.00.

Boeing Trading Up 2.9 %

NYSE:BA opened at $154.88 on Tuesday. The stock has a 50 day moving average of $165.48 and a two-hundred day moving average of $175.19. Boeing has a 12 month low of $149.49 and a 12 month high of $267.54. The firm has a market cap of $95.08 billion, a P/E ratio of -43.63 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm earned ($0.82) EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts forecast that Boeing will post -4.27 earnings per share for the current year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Wellington Management Group LLP boosted its position in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Boeing in the first quarter worth $272,312,000. Finally, Vanguard Group Inc. increased its position in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Hedge funds and other institutional investors 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.