Boeing (NYSE:BA) Price Target Cut to $240.00

Boeing (NYSE:BA) had its target price cut by stock analysts at Jefferies Financial Group from $270.00 to $240.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the aircraft producer’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 53.97% from the company’s previous close.

Several other equities research analysts also recently weighed in on BA. Bank of America increased their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Stifel Nicolaus raised their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird reduced their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Sanford C. Bernstein lowered their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Susquehanna restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Trading Down 0.3 %

Shares of Boeing stock opened at $155.87 on Monday. The company has a fifty day simple moving average of $170.15 and a 200-day simple moving average of $176.78. The stock has a market cap of $95.69 billion, a price-to-earnings ratio of -43.91 and a beta of 1.57. Boeing has a 12-month low of $151.65 and a 12-month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the previous year, the company earned ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that Boeing will post -4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing during the 4th quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the second quarter worth $33,000. Vima LLC acquired a new stake in Boeing in the fourth quarter valued at $34,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the second quarter valued at $34,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. 64.82% of the stock is currently 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.