Boeing (NYSE:BA) Price Target Lowered to $224.00 at Citigroup

Boeing (NYSE:BA) had its price objective cut by equities research analysts at Citigroup from $252.00 to $224.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price objective would indicate a potential upside of 33.92% from the company’s current price.

A number of other brokerages also recently issued reports on BA. JPMorgan Chase & Co. lowered their price objective on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. TD Cowen lowered their target price on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. Wells Fargo & Company lowered their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price for the company. in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Price Performance

Shares of BA opened at $167.26 on Thursday. Boeing has a 1 year low of $159.70 and a 1 year high of $267.54. The company has a market capitalization of $102.05 billion, a price-to-earnings ratio of -47.12, a price-to-earnings-growth ratio of 130.13 and a beta of 1.52. The business has a 50-day moving average of $186.53 and a 200-day moving average of $206.46.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the business earned ($1.75) earnings per share. Boeing’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boeing will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BA. Strategic Blueprint LLC raised its stake in shares of Boeing by 8.7% during the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after purchasing an additional 264 shares during the period. Morse Asset Management Inc increased its stake in Boeing by 65.0% in the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares during the last quarter. Peregrine Asset Advisers Inc. increased its stake in Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after acquiring an additional 33,904 shares during the last quarter. California Public Employees Retirement System increased its stake in Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after acquiring an additional 19,847 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in Boeing by 5.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock worth $7,594,000 after acquiring an additional 1,596 shares during the last quarter. 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.