Boeing (NYSE:BA) Trading Down 0.3% After Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price traded down 0.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. 1,571,840 shares were traded during trading, a decline of 84% from the average session volume of 9,533,256 shares. The stock had previously closed at $170.48.

Several other equities research analysts also recently issued reports on the company. UBS Group decreased their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Morgan Stanley cut their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Sanford C. Bernstein cut their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Melius Research reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Citigroup cut their price objective on Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.71.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BA. CNB Bank lifted its holdings in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing during the 4th quarter worth about $26,000. Evolution Advisers Inc. purchased a new stake in Boeing during the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing during the 4th quarter worth about $28,000. Finally, Vima LLC purchased a new stake in Boeing during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

The firm has a market capitalization of $103.22 billion, a P/E ratio of -45.97, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52. The business has a 50 day simple moving average of $188.81 and a two-hundred day simple moving average of $207.19.

Boeing (NYSE:BA) last announced 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 business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. Boeing’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.75) earnings per share. On average, equities analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

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.