Boeing (NYSE:BA) Given New $110.00 Price Target at Wells Fargo & Company

Boeing (NYSE:BA) had its price target cut by research analysts at Wells Fargo & Company from $119.00 to $110.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 28.67% from the stock’s current price.

A number of other research analysts have also weighed in on BA. TD Cowen reduced their price target on Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America increased their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Finally, Susquehanna restated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given 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 price target of $207.67.

Boeing Stock Up 1.4 %

Shares of BA traded up $2.18 during trading hours on Tuesday, reaching $154.22. 12,502,137 shares of the company traded hands, compared to its average volume of 8,056,742. The stock has a market capitalization of $94.67 billion, a PE ratio of -43.45 and a beta of 1.57. The stock has a fifty day simple moving average of $167.99 and a 200 day simple moving average of $175.90. Boeing has a fifty-two week low of $149.49 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly 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 for the quarter, compared to analyst estimates of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. Research analysts predict that Boeing will post -4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. SS&H Financial Advisors Inc. grew its stake in Boeing by 7.3% during the 2nd quarter. SS&H Financial Advisors Inc. now owns 7,720 shares of the aircraft producer’s stock valued at $1,405,000 after purchasing an additional 525 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Boeing during the second quarter worth approximately $483,000. Lazari Capital Management Inc. raised its holdings in Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Boeing during the 2nd quarter valued at $21,405,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Boeing during the 2nd quarter worth $82,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.