Northcoast Research Downgrades Boeing (NYSE:BA) to Sell

Northcoast Research downgraded shares of Boeing (NYSE:BA) from a neutral rating to a sell rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $140.00 price target on the aircraft producer’s stock.

BA has been the topic of a number of other research reports. Melius Research restated a hold rating on shares of Boeing in a research note on Monday, April 1st. Wells Fargo & Company lowered their target price on Boeing from $225.00 to $215.00 and set an equal weight rating on the stock in a research note on Thursday, February 1st. Citigroup lowered their target price on Boeing from $263.00 to $252.00 and set a buy rating on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on Boeing from $230.00 to $210.00 and set an overweight rating on the stock in a research note on Friday, April 12th. Finally, Stifel Nicolaus lowered their price target on Boeing from $270.00 to $260.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $229.35.

Boeing Stock Down 0.2 %

BA opened at $170.19 on Wednesday. The business has a fifty day moving average of $191.86 and a 200 day moving average of $207.54. Boeing has a 52-week low of $167.53 and a 52-week high of $267.54. The stock has a market cap of $103.84 billion, a P/E ratio of -46.25, a PEG ratio of 114.53 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.75) earnings per share. Equities analysts anticipate that Boeing will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in BA. Vanguard Group Inc. increased its holdings in shares of Boeing by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after purchasing an additional 892,446 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Boeing by 109,667.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after buying an additional 16,041,103 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares during the period. Finally, Morgan Stanley boosted its position in shares of Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after buying an additional 91,801 shares during the period. Hedge funds and other 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.