JPMorgan Chase & Co. Lowers Boeing (NYSE:BA) Price Target to $190.00

Boeing (NYSE:BA) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $195.00 to $190.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the aircraft producer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 26.06% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Price Performance

Shares of BA opened at $150.72 on Monday. The stock has a 50-day moving average of $151.53 and a 200-day moving average of $167.88. The company has a market cap of $93.18 billion, a PE ratio of -11.68 and a beta of 1.57. Boeing has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.26) EPS. Analysts expect that Boeing will post -16.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. State Street Corp lifted its stake in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.