Boeing (NYSE:BA) PT Lowered to $209.00 at Citigroup

Boeing (NYSE:BA) had its target price lowered by stock analysts at Citigroup from $224.00 to $209.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price target points to a potential upside of 34.96% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen dropped their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Boeing Trading Up 1.6 %

Shares of NYSE BA opened at $154.86 on Tuesday. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54. The stock has a market cap of $95.07 billion, a PE ratio of -43.62 and a beta of 1.57. The company has a 50-day moving average of $161.63 and a 200 day moving average of $173.00.

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 company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the previous year, the company posted ($0.82) earnings per share. The company’s quarterly revenue was down 14.6% 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 Investors Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the business. Global Assets Advisory LLC acquired a new stake in shares of Boeing in the 1st quarter valued at $272,312,000. Vanguard Group Inc. raised its holdings in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Boeing by 14.1% in the 1st 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 in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.