Argus Downgrades Boeing (NYSE:BA) to Hold

Boeing (NYSE:BA) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Tuesday, MarketBeat reports.

Several other equities analysts have also recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. UBS Group dropped their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Wells Fargo & Company dropped their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research note on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Boeing currently has a consensus rating of “Hold” and an average price target of $222.41.

Boeing Trading Up 2.2 %

Shares of NYSE:BA opened at $171.45 on Tuesday. The company has a market capitalization of $105.25 billion, a PE ratio of -48.30 and a beta of 1.52. Boeing has a twelve month low of $159.70 and a twelve month high of $267.54. The firm has a 50 day simple moving average of $184.61 and a 200-day simple moving average of $206.14.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.75) earnings per share. As a group, equities research analysts predict that Boeing will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in BA. CNB Bank lifted its holdings in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the 4th quarter valued at about $26,000. Evolution Advisers Inc. purchased a new position in Boeing in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Boeing in the 4th quarter valued at about $28,000. Finally, Vima LLC purchased a new position in Boeing in the 4th quarter valued at about $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.