Boeing (NYSE:BA) PT Lowered to $240.00

Boeing (NYSE:BA) had its price target reduced by analysts at Jefferies Financial Group from $270.00 to $240.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. Jefferies Financial Group’s price target points to a potential upside of 56.19% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America upped their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $212.89.

Boeing Stock Up 0.2 %

NYSE BA traded up $0.37 on Monday, reaching $153.66. 4,256,965 shares of the stock traded hands, compared to its average volume of 7,954,465. Boeing has a 12 month low of $151.65 and a 12 month high of $267.54. The company has a market cap of $94.33 billion, a price-to-earnings ratio of -43.36 and a beta of 1.57. The firm’s fifty day simple moving average is $171.21 and its 200 day simple moving average is $177.41.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) 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 analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.82) earnings per share. As a group, equities research analysts forecast that Boeing will post -4.26 EPS for the current fiscal year.

Institutional Trading of Boeing

Institutional investors have recently added to or reduced their stakes in the stock. Brio Consultants LLC bought a new position in Boeing during the 4th quarter valued at approximately $207,000. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the 4th quarter valued at $258,000. Franklin Resources Inc. boosted its stake in shares of Boeing by 3.6% in the 4th quarter. Franklin Resources Inc. now owns 38,330 shares of the aircraft producer’s stock worth $9,991,000 after buying an additional 1,325 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Boeing by 3.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,726 shares of the aircraft producer’s stock worth $3,056,000 after acquiring an additional 423 shares during the period. Finally, Congress Wealth Management LLC DE increased its position in Boeing by 135.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 7,512 shares of the aircraft producer’s stock valued at $1,959,000 after acquiring an additional 4,323 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.