Boeing (NYSE:BA) Trading Down 0.6% After Analyst Downgrade

The Boeing Company (NYSE:BA) was down 0.6% on Wednesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $225.00 to $195.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as low as $152.88 and last traded at $153.28. Approximately 1,186,314 shares were traded during trading, a decline of 85% from the average daily volume of 8,025,655 shares. The stock had previously closed at $154.22.

A number of other equities analysts also recently commented on BA. TD Cowen decreased their target price on Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday. Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Sanford C. Bernstein cut their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, UBS Group decreased their target price 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 issued a strong buy rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $206.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BA. Crossmark Global Holdings Inc. boosted its position in shares of Boeing by 5.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,709 shares of the aircraft producer’s stock valued at $3,834,000 after acquiring an additional 811 shares during the last quarter. Exencial Wealth Advisors LLC grew its position in Boeing by 93.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,932 shares of the aircraft producer’s stock worth $1,025,000 after acquiring an additional 1,901 shares in the last quarter. Baldwin Investment Management LLC bought a new stake in Boeing during the fourth quarter worth approximately $582,000. Envestnet Asset Management Inc. raised its position in Boeing by 18.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 438,078 shares of the aircraft producer’s stock valued at $114,189,000 after purchasing an additional 68,907 shares during the period. Finally, Morningstar Investment Services LLC lifted its stake in shares of Boeing by 123.1% in the 4th quarter. Morningstar Investment Services LLC now owns 2,526 shares of the aircraft producer’s stock valued at $658,000 after purchasing an additional 1,394 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 1.6 %

The company has a 50-day moving average price of $166.12 and a two-hundred day moving average price of $175.36. The stock has a market cap of $92.40 billion, a P/E ratio of -42.40 and a beta of 1.57.

Boeing (NYSE:BA) last released 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 for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the company posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

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.