Boeing (NYSE:BA) Given New $170.00 Price Target at Morgan Stanley

Boeing (NYSE:BA) had its price objective decreased by Morgan Stanley from $195.00 to $170.00 in a research note released on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the aircraft producer’s stock.

A number of other analysts have also issued reports on the stock. 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 cut their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group lowered their price objective 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 increased their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.79.

Boeing Price Performance

NYSE:BA opened at $155.00 on Friday. The firm has a 50-day moving average of $161.10 and a two-hundred day moving average of $172.64. The stock has a market cap of $95.15 billion, a P/E ratio of -43.66 and a beta of 1.57. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) 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 prior year, the company earned ($0.82) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts expect that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazari Capital Management Inc. raised its stake in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Czech National Bank raised its stake in shares of Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Boeing by 20.7% in the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after purchasing an additional 1,805 shares during the period. BSN CAPITAL PARTNERS Ltd bought a new position in Boeing in the 3rd quarter valued at about $11,237,000. Finally, Sanctuary Advisors LLC acquired a new position in Boeing during the 2nd quarter valued at about $21,405,000. 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.