Boeing (NYSE:BA) PT Lowered to $202.00

Boeing (NYSE:BA) had its price target cut by research analysts at The Goldman Sachs Group from $232.00 to $202.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 31.25% from the company’s previous close.

A number of other research firms have also issued reports on BA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. UBS Group decreased their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Finally, Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Stock Performance

Boeing stock traded down $2.40 during midday trading on Tuesday, hitting $153.90. 2,419,456 shares of the company’s stock were exchanged, compared to its average volume of 7,970,326. The company has a market cap of $94.48 billion, a PE ratio of -43.35 and a beta of 1.57. The firm has a 50-day moving average of $170.76 and a two-hundred day moving average of $177.08. Boeing has a 12 month low of $151.65 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities analysts expect that Boeing will post -4.26 earnings per share for the current year.

Institutional Trading of Boeing

Several hedge funds have recently bought and sold shares of BA. Vanguard Group Inc. increased its position in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC increased its position in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Capital Research Global Investors increased its position in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. 64.82% of the stock is currently owned by 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.