Boeing (NYSE:BA) Price Target Lowered to $86.00 at Wells Fargo & Company

Boeing (NYSE:BA) had its price target dropped by equities research analysts at Wells Fargo & Company from $109.00 to $86.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 44.51% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped 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. Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Susquehanna dropped their price objective on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Stock Performance

Shares of NYSE BA opened at $154.97 on Thursday. The firm has a market cap of $95.13 billion, a PE ratio of -43.93 and a beta of 1.57. The firm has a fifty day moving average of $160.18 and a 200 day moving average of $171.89. Boeing has a one year low of $146.02 and a one year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.26) earnings per share. On average, equities analysts predict that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds have recently made changes to their positions in the business. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth about $34,000. McClarren Financial Advisors Inc. increased its stake in shares of Boeing by 451.4% during the first 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. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Boeing by 351.1% during 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 period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.