Boeing (NYSE:BA) Reaches New 12-Month Low Following Analyst Downgrade

The Boeing Company (NYSE:BA) shares hit a new 52-week low during mid-day trading on Thursday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $160.61 and last traded at $161.66, with a volume of 3521363 shares changing hands. The stock had previously closed at $164.33.

A number of other research analysts have also issued reports on BA. Royal Bank of Canada dropped their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company dropped their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Finally, Barclays cut their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.41.

Institutional Trading of Boeing

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after acquiring an additional 892,446 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 1,884,850 shares in the last quarter. Morgan Stanley increased its holdings in Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after buying an additional 91,801 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after buying an additional 52,081 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

The company has a market cap of $102.05 billion, a P/E ratio of -47.12, a P/E/G ratio of 130.13 and a beta of 1.52. The business has a fifty day simple moving average of $186.53 and a 200 day simple moving average of $206.46.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the company earned ($1.75) EPS. Boeing’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post 0.32 EPS for the current year.

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.