Boeing (NYSE:BA) Shares Down 0.3% After Analyst Downgrade

Shares of The Boeing Company (NYSE:BA) fell 0.3% on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. 1,571,840 shares traded hands during trading, a decline of 84% from the average session volume of 9,533,256 shares. The stock had previously closed at $170.48.

A number of other equities research analysts also recently weighed in on BA. Melius Research reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. UBS Group decreased their target price on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Melius reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Wells Fargo & Company decreased their price objective on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.71.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BA. Private Trust Co. NA raised its position in Boeing by 12.0% in the 1st quarter. Private Trust Co. NA now owns 8,215 shares of the aircraft producer’s stock worth $1,585,000 after purchasing an additional 879 shares during the last quarter. Krilogy Financial LLC raised its position in Boeing by 9.8% in the 1st quarter. Krilogy Financial LLC now owns 20,006 shares of the aircraft producer’s stock worth $3,861,000 after purchasing an additional 1,780 shares during the last quarter. Keene & Associates Inc. grew its holdings in Boeing by 3.4% during the 1st quarter. Keene & Associates Inc. now owns 2,058 shares of the aircraft producer’s stock worth $397,000 after acquiring an additional 67 shares during the period. Family Legacy Inc. grew its holdings in Boeing by 3.2% during the 1st quarter. Family Legacy Inc. now owns 12,103 shares of the aircraft producer’s stock worth $2,336,000 after acquiring an additional 376 shares during the period. Finally, Activest Wealth Management acquired a new stake in Boeing during the 1st quarter worth $49,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.9 %

The business’s fifty day simple moving average is $188.03 and its 200 day simple moving average is $206.89. The stock has a market cap of $100.27 billion, a price-to-earnings ratio of -44.66, a price-to-earnings-growth ratio of 135.00 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the firm posted ($1.75) EPS. Boeing’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current year.

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.