Boeing (NYSE:BA) Trading Down 0.5% on Analyst Downgrade

The Boeing Company (NYSE:BA) shares fell 0.5% during trading on Friday after Morgan Stanley lowered their price target on the stock from $195.00 to $170.00. Morgan Stanley currently has an equal weight rating on the stock. Boeing traded as low as $154.12 and last traded at $154.59. 1,721,512 shares changed hands during trading, a decline of 79% from the average session volume of 8,038,787 shares. The stock had previously closed at $155.31.

Other equities analysts also recently issued research reports about the stock. Susquehanna cut their price target on shares of Boeing from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Thursday. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company reduced their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday, October 14th. Sanford C. Bernstein lowered their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.79.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently bought and sold shares of BA. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the second quarter worth approximately $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Boeing during the second quarter worth about $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

The company has a market cap of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The firm’s 50 day moving average is $161.10 and its 200-day moving average is $172.64.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate 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 company posted ($0.82) EPS. Boeing’s revenue was down 14.6% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -5.35 EPS for the current 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.