Boeing (NYSE:BA) Price Target Cut to $207.00 by Analysts at Sanford C. Bernstein

Boeing (NYSE:BA) had its price objective cut by Sanford C. Bernstein from $222.00 to $207.00 in a report published on Monday, MarketBeat reports. They currently have an outperform rating on the aircraft producer’s stock.

Several other research firms have also weighed in on BA. Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $230.00 to $210.00 and set an overweight rating for the company in a research report on Friday, April 12th. Morgan Stanley dropped their target price on shares of Boeing from $235.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on Boeing from $225.00 to $215.00 and set an outperform rating for the company in a report on Tuesday, April 16th. Finally, Wells Fargo & Company dropped their price objective on Boeing from $190.00 to $185.00 and set an equal weight rating on the stock in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $215.18.

Boeing Stock Performance

Shares of BA opened at $168.87 on Monday. Boeing has a 52-week low of $159.70 and a 52-week high of $267.54. The company has a market cap of $103.67 billion, a price-to-earnings ratio of -47.57 and a beta of 1.56. The stock has a fifty day moving average price of $181.28 and a two-hundred day moving average price of $186.22.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the company posted ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, research analysts predict that Boeing will post -2.38 EPS for the current fiscal year.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the company. Williams Financial LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at about $1,637,000. Inspire Advisors LLC raised its position in Boeing by 3.4% during the second quarter. Inspire Advisors LLC now owns 2,630 shares of the aircraft producer’s stock valued at $479,000 after purchasing an additional 87 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Boeing by 10.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer’s stock valued at $101,263,000 after purchasing an additional 50,767 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Boeing by 1,142.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,037 shares of the aircraft producer’s stock worth $4,557,000 after purchasing an additional 23,022 shares during the period. Finally, Leelyn Smith LLC boosted its holdings in shares of Boeing by 5.0% in the 2nd quarter. Leelyn Smith LLC now owns 18,819 shares of the aircraft producer’s stock worth $3,425,000 after purchasing an additional 898 shares during the period. 64.82% of the stock is owned by hedge funds and other 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.