Boeing (NYSE:BA) Price Target Cut to $230.00

Boeing (NYSE:BA) had its price objective decreased by TD Cowen from $275.00 to $230.00 in a research report report published on Monday, Benzinga reports. TD Cowen currently has an outperform rating on the aircraft producer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus started coverage on shares of Boeing in a research note on Friday, December 1st. They issued a buy rating and a $265.00 price objective for the company. Northcoast Research cut Boeing from a buy rating to a neutral rating in a research note on Friday, February 23rd. Edward Jones lowered Boeing from a buy rating to a hold rating in a research note on Monday, January 8th. Wells Fargo & Company dropped their target price on Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a report on Thursday, February 1st. Finally, Barclays lifted their price target on Boeing from $210.00 to $235.00 and gave the stock an equal weight rating in a research note 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 company’s stock. According to MarketBeat.com, Boeing has a consensus rating of Moderate Buy and a consensus price target of $241.53.

Boeing Stock Performance

Shares of NYSE:BA opened at $192.83 on Monday. 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 has a 52-week low of $176.25 and a 52-week high of $267.54. The firm has a fifty day moving average of $200.59 and a 200 day moving average of $209.84.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.75) earnings per share. On average, sell-side analysts forecast that Boeing will post 1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently bought and sold shares of BA. Bollard Group LLC increased its position in Boeing by 10.6% during the 2nd quarter. Bollard Group LLC now owns 469 shares of the aircraft producer’s stock valued at $99,000 after purchasing an additional 45 shares during the period. Trust Co. of Vermont raised its stake in Boeing by 1.0% in the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after buying an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after buying an additional 47 shares during the period. Waverly Advisors LLC lifted its holdings in Boeing by 0.6% during the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after buying an additional 49 shares during the period. Finally, WealthPlan Investment Management LLC boosted its position in Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after acquiring an additional 49 shares in the last quarter. 64.82% of the stock is owned by 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.