Boeing (NYSE:BA) Price Target Cut to $195.00

Boeing (NYSE:BA) had its price objective decreased by equities researchers at UBS Group from $215.00 to $195.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. UBS Group’s price target suggests a potential upside of 25.83% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $191.79.

Boeing Stock Performance

Shares of BA stock opened at $154.97 on Thursday. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The company has a market capitalization of $95.13 billion, a PE ratio of -43.93 and a beta of 1.57. The business’s fifty day moving average is $160.18 and its 200 day moving average is $171.89.

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

Institutional Trading of Boeing

Several large investors have recently modified their holdings of BA. Vanguard Group Inc. lifted its holdings in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the period. Newport Trust Company LLC lifted its holdings in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the period. Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares during the last quarter. 64.82% of the stock is 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.