Wells Fargo & Company Cuts Boeing (NYSE:BA) Price Target to $185.00

Boeing (NYSE:BA) had its target price cut by Wells Fargo & Company from $190.00 to $185.00 in a research note published on Friday morning, Benzinga reports. They currently have an equal weight rating on the aircraft producer’s stock.

A number of other analysts have also commented on BA. StockNews.com lowered Boeing from a hold rating to a sell rating in a report on Friday, April 26th. UBS Group reduced their price objective on Boeing from $250.00 to $240.00 and set a buy rating on the stock in a research note on Friday, June 7th. Royal Bank of Canada reduced their price objective on Boeing from $225.00 to $215.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. Robert W. Baird dropped their target price on Boeing from $300.00 to $240.00 and set an outperform rating on the stock in a research report on Monday, June 3rd. Finally, Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing has an average rating of Moderate Buy and a consensus price target of $215.18.

Boeing Price Performance

Shares of NYSE:BA opened at $166.98 on Friday. Boeing has a 1 year low of $159.70 and a 1 year high of $267.54. The business has a fifty day moving average price of $181.87 and a two-hundred day moving average price of $187.17. The company has a market capitalization of $102.89 billion, a PE ratio of -47.04 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm 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) EPS. The company’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts anticipate that Boeing will post -2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BA. Strategic Blueprint LLC boosted its position in Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after buying an additional 264 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Boeing by 41.5% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,761 shares of the aircraft producer’s stock valued at $4,108,000 after acquiring an additional 4,622 shares during the last quarter. Orca Investment Management LLC lifted its stake in shares of Boeing by 5.5% during the 4th quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after buying an additional 195 shares during the last quarter. One Charles Private Wealth Services LLC bought a new position in Boeing during the fourth quarter worth about $205,000. Finally, J.W. Cole Advisors Inc. increased its position in Boeing by 5.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock worth $7,594,000 after acquiring an additional 1,596 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.