Jefferies Financial Group Lowers Boeing (NYSE:BA) Price Target to $240.00

Boeing (NYSE:BA) had its target price trimmed by Jefferies Financial Group from $270.00 to $240.00 in a research report released on Monday, Benzinga reports. The firm currently has a buy rating on the aircraft producer’s stock.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. UBS Group lowered their price target on Boeing from $250.00 to $240.00 and set a buy rating for the company in a report on Friday, June 7th. Stifel Nicolaus upped their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a buy rating in a report on Thursday, August 1st. Wells Fargo & Company reaffirmed an underweight rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Finally, Baird R W raised shares of Boeing to a strong-buy rating in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $209.83.

Boeing Stock Performance

Shares of Boeing stock opened at $154.58 on Monday. The company has a market capitalization of $94.89 billion, a PE ratio of -43.54 and a beta of 1.57. The company has a 50-day simple moving average of $169.50 and a two-hundred day simple moving average of $176.61. Boeing has a one year low of $151.65 and a one year high of $267.54.

Boeing (NYSE:BA) last posted 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 company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) EPS. On average, equities analysts predict that Boeing will post -4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

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

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.