Boeing’s (BA) Underweight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their underweight rating on shares of Boeing (NYSE:BA) in a report released on Tuesday, Marketbeat reports. Wells Fargo & Company currently has a $119.00 price objective on the aircraft producer’s stock, down from their prior price objective of $185.00.

A number of other research analysts also recently weighed in on the stock. UBS Group decreased their target price on shares of Boeing from $250.00 to $240.00 and set a buy rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an outperform rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. Susquehanna reiterated a positive rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Finally, Baird R W raised shares of Boeing to a strong-buy rating in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $211.29.

Boeing Trading Down 0.7 %

BA stock opened at $162.15 on Tuesday. The stock has a market cap of $99.54 billion, a PE ratio of -45.68 and a beta of 1.56. The stock has a 50-day moving average price of $177.02 and a two-hundred day moving average price of $181.13. Boeing has a 1 year low of $158.30 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the company posted ($0.82) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that Boeing will post -4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of BA. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing in the fourth quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at approximately $33,000. Vima LLC bought a new stake in shares of Boeing during the 4th quarter worth approximately $34,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $34,000. Finally, McClarren Financial Advisors Inc. increased its stake in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. 64.82% of the stock is owned by 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.