Boeing (NYSE:BA) Sets New 52-Week Low at $153.02

The Boeing Company (NYSE:BA) shares hit a new 52-week low on Friday . The stock traded as low as $153.02 and last traded at $153.71, with a volume of 1729311 shares. The stock had previously closed at $154.59.

Analyst Upgrades and Downgrades

Several research firms recently commented on BA. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Susquehanna reissued a “positive” rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Stifel Nicolaus upped 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. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Down 0.6 %

The firm has a market capitalization of $94.33 billion, a price-to-earnings ratio of -43.54 and a beta of 1.57. The company has a 50-day moving average price of $171.80 and a 200-day moving average price of $178.07.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) EPS. As a group, analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several large investors have recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth about $33,000. Vima LLC purchased a new stake in Boeing during the fourth quarter valued at about $34,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. increased 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 worth $37,000 after acquiring an additional 158 shares in the last quarter. 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.