Boeing (NYSE:BA) Price Target Cut to $202.00

Boeing (NYSE:BA) had its price objective decreased by The Goldman Sachs Group from $232.00 to $202.00 in a research report released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the aircraft producer’s stock.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a buy rating on the stock in a report on Monday, September 23rd. Susquehanna reaffirmed a positive rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Wells Fargo & Company reissued an underweight rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Sanford C. Bernstein cut their price target on Boeing from $222.00 to $207.00 and set an outperform rating on the stock in a research note on Monday, August 5th. Finally, UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a buy rating for the company in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $209.83.

Boeing Stock Up 1.1 %

Boeing stock opened at $156.32 on Tuesday. The company’s 50 day moving average is $168.52 and its two-hundred day moving average is $176.20. The firm has a market cap of $95.96 billion, a PE ratio of -44.03 and a beta of 1.57. Boeing has a 52-week low of $151.65 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the business posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Boeing will post -4.27 earnings per share for the current fiscal year.

Institutional Trading of Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Chicago Partners Investment Group LLC raised its stake in shares of Boeing by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after purchasing an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC boosted its holdings in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after acquiring an additional 56 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of Boeing by 4.3% during the fourth quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock worth $381,000 after acquiring an additional 60 shares during the period. Bridge Creek Capital Management LLC raised its holdings in Boeing by 3.1% during the first quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock worth $383,000 after purchasing an additional 60 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC lifted its position in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. 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.