Boeing (NYSE:BA) Price Target Lowered to $207.00 at Sanford C. Bernstein

Boeing (NYSE:BA) had its price objective reduced by Sanford C. Bernstein from $222.00 to $207.00 in a report released on Monday morning, MarketBeat.com reports. They currently have an outperform rating on the aircraft producer’s stock.

A number of other equities research analysts have also issued reports on the stock. Citigroup dropped their target price on shares of Boeing from $252.00 to $224.00 and set a buy rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a buy rating in a report on Thursday, August 1st. Robert W. Baird dropped their target price on shares of Boeing from $300.00 to $240.00 and set an outperform rating for the company in a report on Monday, June 3rd. Finally, Morgan Stanley dropped their target price on shares of Boeing from $235.00 to $180.00 and set an equal weight rating for the company in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $215.18.

Boeing Stock Performance

Shares of BA traded down $1.99 during trading hours on Monday, hitting $165.04. The stock had a trading volume of 5,781,727 shares, compared to its average volume of 8,208,509. The firm has a 50-day moving average price of $181.72 and a 200 day moving average price of $186.85. Boeing has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The firm has a market capitalization of $101.69 billion, a price-to-earnings ratio of -46.49 and a beta of 1.56.

Boeing (NYSE:BA) last issued 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 for the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.82) earnings per share. As a group, analysts predict that Boeing will post -2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently added to or reduced their stakes in BA. Vanguard Group Inc. grew its position in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Capital Research Global Investors lifted its holdings 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 period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Boeing by 23.7% during 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 during the period. Northern Trust Corp lifted its holdings in shares of Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Company Profile

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.