JPMorgan Chase & Co. Has Lowered Expectations for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $195.00 to $190.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the aircraft producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.34% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Stifel Nicolaus raised their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price objective 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, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Trading Up 0.7 %

Shares of Boeing stock opened at $150.39 on Monday. The firm has a market capitalization of $92.97 billion, a P/E ratio of -11.66 and a beta of 1.57. The business’s fifty day simple moving average is $151.70 and its 200 day simple moving average is $168.27. Boeing has a 12 month low of $137.03 and a 12 month high of $267.54.

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 company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned ($3.26) EPS. Analysts predict that Boeing will post -16.2 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. Madison Park Capital Advisors LLC grew 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 worth $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC lifted its position 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 valued at $691,000 after acquiring an additional 60 shares during the period. IMS Capital Management boosted its stake in Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares in the last quarter. ADE LLC grew its holdings in Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after purchasing an additional 65 shares during the period. Finally, Peoples Financial Services CORP. lifted its holdings in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 67 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Company Profile

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.