Boeing (NYSE:BA) Hits New 12-Month Low – Here’s Why

The Boeing Company (NYSE:BA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $148.80 and last traded at $150.41, with a volume of 1222593 shares changing hands. The stock had previously closed at $154.65.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America raised 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. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Boeing Stock Performance

The company has a market cap of $92.21 billion, a PE ratio of -43.56 and a beta of 1.57. The business’s 50-day moving average is $164.24 and its 200 day moving average is $174.59.

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

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. Chicago Partners Investment Group LLC grew 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 valued at $3,895,000 after buying an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC grew its stake in shares of Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares during the last quarter. Bridge Creek Capital Management LLC grew its stake in Boeing by 3.1% in 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. Wealth Alliance Advisory Group LLC grew its stake 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 worth $691,000 after purchasing an additional 60 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

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.