Morgan Stanley Cuts Boeing (NYSE:BA) Price Target to $170.00

Boeing (NYSE:BA) had its price target lowered by Morgan Stanley from $195.00 to $170.00 in a research note published on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the aircraft producer’s stock.

A number of other research analysts have also recently commented on BA. Robert W. Baird reduced their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price target on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Stock Down 0.1 %

Shares of NYSE BA opened at $155.01 on Thursday. The stock’s 50-day simple moving average is $159.68 and its two-hundred day simple moving average is $171.64. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The firm has a market capitalization of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the business posted ($3.26) EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Madison Park Capital Advisors LLC lifted its holdings in shares of Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after acquiring an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its position 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 valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC lifted its stake in Boeing by 4.2% during 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. IMS Capital Management boosted its position in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in shares of Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after buying an additional 65 shares in 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.