Boeing (NYSE:BA) Price Target Cut to $190.00

Boeing (NYSE:BA) had its price objective cut by equities researchers at Barclays from $235.00 to $190.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the aircraft producer’s stock. Barclays‘s target price indicates a potential upside of 12.31% from the stock’s current price.

A number of other brokerages also recently issued reports on BA. The Goldman Sachs Group lowered their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Bank of America lowered their price target on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Stifel Nicolaus lowered their price target on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, TD Cowen decreased their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $226.71.

Boeing Stock Performance

BA stock opened at $169.17 on Monday. The company’s 50 day moving average price is $188.81 and its 200 day moving average price is $207.19. Boeing has a fifty-two week low of $167.53 and a fifty-two week high of $267.54. The firm has a market capitalization of $103.22 billion, a price-to-earnings ratio of -45.97, a PEG ratio of 134.48 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the company posted ($1.75) earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Boeing will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently modified their holdings of the company. CNB Bank lifted its stake in shares of Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $26,000. Evolution Advisers Inc. acquired a new position in shares of Boeing in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Boeing during the 4th quarter valued at about $28,000. Finally, Vima LLC purchased a new stake in shares of Boeing during the 4th quarter valued at about $34,000. 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.