Wells Fargo & Company Trims Boeing (NYSE:BA) Target Price to $110.00

Boeing (NYSE:BA) had its price objective reduced by Wells Fargo & Company from $119.00 to $110.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

Several other research firms also recently issued reports on BA. The Goldman Sachs Group dropped their price target on shares of Boeing from $232.00 to $202.00 and set a buy rating on the stock in a research note on Tuesday, September 24th. UBS Group cut their price target on Boeing from $250.00 to $240.00 and set a buy rating on the stock in a research note on Friday, June 7th. Sanford C. Bernstein reduced their price target on Boeing from $222.00 to $207.00 and set an outperform rating for the company in a report on Monday, August 5th. Susquehanna restated a positive rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Finally, Baird R W raised Boeing to a strong-buy rating in a research report on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $206.00.

Boeing Price Performance

NYSE:BA opened at $154.88 on Tuesday. The business’s 50-day moving average is $165.48 and its two-hundred day moving average is $175.19. The firm has a market capitalization of $95.08 billion, a PE ratio of -43.63 and a beta of 1.57. Boeing has a 12 month low of $149.49 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the business earned ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts anticipate that Boeing will post -4.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the fourth quarter valued at $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the 2nd quarter worth about $33,000. Vima LLC acquired a new stake in shares of Boeing in the 4th quarter worth about $34,000. Hobbs Group Advisors LLC bought a new stake in Boeing in the 2nd quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. boosted its stake in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.