Boeing (NYSE:BA) Downgraded to Hold at Argus

Boeing (NYSE:BA) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat Ratings reports.

BA has been the topic of a number of other reports. Susquehanna cut their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research note on Thursday, March 21st. UBS Group decreased their price target on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada cut their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, Sanford C. Bernstein decreased their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $222.41.

Boeing Price Performance

Shares of BA opened at $173.53 on Tuesday. The firm has a 50-day simple moving average of $185.92 and a two-hundred day simple moving average of $206.50. Boeing has a 1-year low of $159.70 and a 1-year high of $267.54. The stock has a market cap of $106.53 billion, a PE ratio of -48.88 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating 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. During the same period in the previous year, the firm earned ($1.75) EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Boeing will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently modified their holdings of BA. CNB Bank increased its stake in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing in the 4th quarter valued at about $26,000. Evolution Advisers Inc. acquired a new stake in Boeing during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing during the 4th quarter worth approximately $28,000. Finally, Vima LLC acquired a new position in shares of Boeing in the fourth quarter valued at approximately $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.