Boeing (NYSE:BA) PT Lowered to $202.00

Boeing (NYSE:BA) had its price target decreased by stock analysts at The Goldman Sachs Group from $232.00 to $202.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 32.69% from the stock’s current price.

A number of other research firms also recently issued reports on BA. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Susquehanna restated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Baird R W upgraded 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 issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.83.

Boeing Stock Down 2.3 %

Shares of NYSE:BA opened at $152.24 on Tuesday. The stock has a market cap of $93.80 billion, a PE ratio of -42.88 and a beta of 1.57. Boeing has a 12-month low of $151.65 and a 12-month high of $267.54. The business has a 50 day moving average of $170.15 and a 200-day moving average of $176.78.

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

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing during the 4th quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the second quarter valued at $33,000. Vima LLC bought a new position in Boeing during the 4th quarter worth $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. grew its position in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. 64.82% of the stock is currently 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.