Benchmark Issues Pessimistic Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its target price decreased by Benchmark from $250.00 to $215.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the aircraft producer’s stock. Benchmark’s price target would indicate a potential upside of 32.03% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group lifted their price target on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Boeing from $113.00 to $111.00 and set an “underweight” rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.11.

Boeing Stock Performance

Shares of NYSE BA opened at $162.84 on Monday. Boeing has a 52-week low of $128.88 and a 52-week high of $196.95. The business has a fifty day moving average of $165.42 and a two-hundred day moving average of $164.23. The stock has a market cap of $122.14 billion, a PE ratio of -8.89 and a beta of 1.24.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) EPS. Analysts predict that Boeing will post -2.58 earnings per share for the current year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Institutional Trading of Boeing

Hedge funds have recently bought and sold shares of the stock. Keynote Financial Services LLC boosted its stake in Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares during the period. Chaney Capital Management Inc. lifted its holdings in shares of Boeing by 2.1% in the fourth quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after purchasing an additional 58 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Boeing by 0.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,608 shares of the aircraft producer’s stock valued at $1,878,000 after purchasing an additional 59 shares in the last quarter. Center for Financial Planning Inc. boosted its position in shares of Boeing by 12.0% during the fourth quarter. Center for Financial Planning Inc. now owns 562 shares of the aircraft producer’s stock worth $99,000 after buying an additional 60 shares during the period. Finally, Trek Financial LLC grew its holdings in shares of Boeing by 2.7% during the fourth quarter. Trek Financial LLC now owns 2,307 shares of the aircraft producer’s stock worth $408,000 after buying an additional 60 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.