Boeing (NYSE:BA) PT Lowered to $200.00

Boeing (NYSE:BA) had its target price lowered by equities researchers at TD Cowen from $230.00 to $200.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the aircraft producer’s stock. TD Cowen’s price target would indicate a potential upside of 30.81% from the company’s previous close.

A number of other research analysts have also recently commented on BA. Stifel Nicolaus upped their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird decreased their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $207.67.

Boeing Trading Down 0.9 %

Shares of BA opened at $152.89 on Tuesday. Boeing has a 12-month low of $149.49 and a 12-month high of $267.54. The firm has a market capitalization of $93.86 billion, a P/E ratio of -43.07 and a beta of 1.57. The firm has a 50-day moving average price of $166.80 and a 200 day moving average price of $175.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the business posted ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts predict that Boeing will post -4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC increased its stake in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the period. Capital Research Global Investors increased its stake in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Boeing by 23.7% in the 4th 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 acquiring an additional 1,884,850 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares during the period. 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.