Morgan Stanley Lowers Boeing (NYSE:BA) Price Target to $170.00

Boeing (NYSE:BA) had its price target lowered by stock analysts at Morgan Stanley from $195.00 to $170.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the aircraft producer’s stock. Morgan Stanley’s target price indicates a potential upside of 9.46% from the company’s current price.

Several other brokerages also recently issued reports on BA. Sanford C. Bernstein lowered their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday. Susquehanna decreased their price target on shares of Boeing from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Thursday. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price objective on Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Finally, Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.79.

Boeing Trading Up 0.3 %

Shares of Boeing stock opened at $155.31 on Friday. The company’s fifty day simple moving average is $161.36 and its 200-day simple moving average is $172.88. The company has a market cap of $95.34 billion, a price-to-earnings ratio of -43.75 and a beta of 1.57. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.82) EPS. As a group, research analysts forecast that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter worth about $34,000. McClarren Financial Advisors Inc. raised its holdings in 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 purchasing an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing during the 2nd quarter worth about $39,000. 64.82% of the stock is owned by institutional investors.

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.