The Goldman Sachs Group Trims Boeing (NYSE:BA) Target Price to $257.00

Boeing (NYSE:BA) had its target price reduced by The Goldman Sachs Group from $268.00 to $257.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

Several other brokerages also recently weighed in on BA. TD Cowen reduced their target price on Boeing from $275.00 to $230.00 and set an outperform rating for the company in a research note on Monday. Bank of America lowered their price target on Boeing from $225.00 to $210.00 and set a neutral rating for the company in a report on Thursday, March 21st. UBS Group decreased their target price on Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Edward Jones lowered Boeing from a buy rating to a hold rating in a research note on Monday, January 8th. Finally, Barclays increased their price target on Boeing from $210.00 to $235.00 and gave the company an equal weight rating in a research report on Wednesday, December 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $241.53.

Boeing Price Performance

BA opened at $192.83 on Monday. The business’s 50-day moving average is $200.59 and its two-hundred day moving average is $209.84. Boeing has a 1 year low of $176.25 and a 1 year high of $267.54. The firm has a market capitalization of $117.65 billion, a PE ratio of -52.40, a price-to-earnings-growth ratio of 30.31 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the firm posted ($1.75) EPS. Boeing’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Boeing will post 1.55 EPS for the current year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC acquired a new position in Boeing during the fourth quarter worth $5,010,000. Accent Capital Management LLC acquired a new position in Boeing during the fourth quarter worth $39,000. Skyline Advisors Inc. acquired a new position in Boeing during the fourth quarter worth $561,000. BlueChip Wealth Advisors LLC acquired a new position in shares of Boeing in the fourth quarter worth $425,000. Finally, Walden Wealth Partners LLC acquired a new position in shares of Boeing in the fourth quarter worth $1,001,000. 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.