Boeing (NYSE:BA) Cut to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein cut shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a research report released on Wednesday morning, MarketBeat Ratings reports. Sanford C. Bernstein currently has $169.00 price target on the aircraft producer’s stock, down from their previous price target of $195.00.

Other research analysts have also issued reports about the company. Benchmark reiterated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $190.42.

Boeing Stock Performance

NYSE:BA opened at $154.59 on Wednesday. The company has a 50-day moving average of $157.46 and a 200-day moving average of $171.00. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a market capitalization of $95.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that Boeing will post -16.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Madison Park Capital Advisors LLC lifted its stake in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares during the period. Wealth Alliance Advisory Group LLC boosted its stake in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Boeing by 4.2% during the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management increased its stake in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after purchasing an additional 65 shares in the last quarter. 64.82% of the stock is currently 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.