Boeing (NYSE:BA) Price Target Cut to $109.00 by Analysts at Wells Fargo & Company

Boeing (NYSE:BA) had its target price trimmed by Wells Fargo & Company from $110.00 to $109.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an underweight rating on the aircraft producer’s stock.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a buy rating for the company in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a buy rating on the stock in a research note on Thursday, October 3rd. 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. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a buy rating on the stock in a research note on Monday, September 23rd. Finally, Sanford C. Bernstein cut their target price on shares of Boeing from $222.00 to $207.00 and set an outperform rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $204.56.

Boeing Stock Performance

Shares of BA opened at $149.10 on Monday. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The firm has a market capitalization of $91.53 billion, a P/E ratio of -42.00 and a beta of 1.57. The company has a 50-day simple moving average of $162.05 and a 200-day simple moving average of $173.41.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates 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. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.82) EPS. As a group, equities analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Institutional Trading of Boeing

Hedge funds and other institutional investors have recently made changes to their positions in the business. Madison Park Capital Advisors LLC lifted its position in shares of Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares in the last quarter. Bridge Creek Capital Management LLC lifted its holdings in Boeing by 3.1% during the first quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock valued at $383,000 after purchasing an additional 60 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its position in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC increased its stake in shares of Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares in the last quarter. Finally, IMS Capital Management raised its position in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.