Wells Fargo & Company Lowers Boeing (NYSE:BA) Price Target to $109.00

Boeing (NYSE:BA) had its price objective trimmed by Wells Fargo & Company from $110.00 to $109.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an underweight rating on the aircraft producer’s stock.

A number of other analysts have also weighed in on BA. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have given 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.32.

Boeing Trading Up 0.3 %

Shares of Boeing stock opened at $155.31 on Monday. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54. The stock’s fifty day moving average price is $161.36 and its 200-day moving average price is $172.88. The firm has a market cap of $95.34 billion, a P/E ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the company posted ($0.82) EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its holdings 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 period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Boeing during the second quarter worth about $39,000. 64.82% of the stock is owned by hedge funds and other 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.