Wells Fargo & Company Has Lowered Expectations for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its target price dropped by investment analysts at Wells Fargo & Company from $86.00 to $85.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 43.70% from the stock’s current price.

BA has been the subject of several other reports. The Goldman Sachs Group dropped their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

NYSE:BA opened at $150.99 on Monday. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The company has a market cap of $93.34 billion, a price-to-earnings ratio of -11.70 and a beta of 1.57. The stock has a fifty day moving average price of $156.65 and a 200-day moving average price of $170.77.

Boeing (NYSE:BA) last announced 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 during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Research analysts predict that Boeing will post -16.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rossmore Private Capital boosted its holdings in Boeing by 3.5% in the third quarter. Rossmore Private Capital now owns 12,920 shares of the aircraft producer’s stock worth $1,964,000 after acquiring an additional 432 shares in the last quarter. Souders Financial Advisors bought a new position in Boeing in the third quarter worth approximately $850,000. Haverford Trust Co boosted its holdings in Boeing by 10.5% in the third quarter. Haverford Trust Co now owns 3,140 shares of the aircraft producer’s stock worth $477,000 after acquiring an additional 298 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in Boeing by 9.6% in the third quarter. Empower Advisory Group LLC now owns 331,810 shares of the aircraft producer’s stock worth $50,448,000 after acquiring an additional 28,980 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in Boeing by 10.7% in the third quarter. Aptus Capital Advisors LLC now owns 8,146 shares of the aircraft producer’s stock worth $1,239,000 after acquiring an additional 787 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.