Boeing (NYSE:BA) Trading Down 2.4% Following Analyst Downgrade

The Boeing Company (NYSE:BA) shares traded down 2.4% during trading on Monday after TD Cowen lowered their price target on the stock from $200.00 to $190.00. TD Cowen currently has a buy rating on the stock. Boeing traded as low as $146.02 and last traded at $147.43. 3,935,699 shares were traded during mid-day trading, a decline of 51% from the average session volume of 8,032,438 shares. The stock had previously closed at $151.02.

A number of other equities research analysts have also issued reports on the company. Sanford C. Bernstein cut their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Finally, Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $204.56.

Institutional Investors Weigh In On Boeing

Institutional investors have recently bought and sold shares of the company. Adamsbrown Wealth Consultants LLC lifted its stake in shares of Boeing by 8.5% during the third quarter. Adamsbrown Wealth Consultants LLC now owns 2,204 shares of the aircraft producer’s stock worth $335,000 after buying an additional 173 shares during the period. ORG Wealth Partners LLC purchased a new position in Boeing in the third quarter valued at $141,000. Procyon Advisors LLC increased its stake in shares of Boeing by 2.5% during the third quarter. Procyon Advisors LLC now owns 54,570 shares of the aircraft producer’s stock worth $8,299,000 after purchasing an additional 1,355 shares in the last quarter. Orca Investment Management LLC boosted its position in Boeing by 10.4% during the third quarter. Orca Investment Management LLC now owns 3,840 shares of the aircraft producer’s stock worth $584,000 after acquiring an additional 361 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. boosted its holdings in Boeing by 33.3% in the 3rd quarter. Ameliora Wealth Management Ltd. now owns 4,000 shares of the aircraft producer’s stock valued at $608,000 after purchasing an additional 1,000 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 1.3 %

The firm’s fifty day moving average price is $162.05 and its 200 day moving average price is $173.41. The stock has a market capitalization of $91.53 billion, a price-to-earnings ratio of -42.00 and a beta of 1.57.

Boeing (NYSE:BA) last posted its 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 firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the business earned ($0.82) EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.