Boeing (NYSE:BA) Shares Down 1.5% After Analyst Downgrade

The Boeing Company (NYSE:BA) shares traded down 1.5% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $232.00 to $202.00. The Goldman Sachs Group currently has a buy rating on the stock. Boeing traded as low as $153.83 and last traded at $153.90. 2,419,456 shares traded hands during trading, a decline of 70% from the average session volume of 7,970,326 shares. The stock had previously closed at $156.30.

A number of other analysts have also recently issued reports on BA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. UBS Group lowered their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Robert W. Baird dropped their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.83.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently added to or reduced their stakes in BA. Chicago Partners Investment Group LLC boosted its stake in Boeing by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock valued at $3,895,000 after purchasing an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC grew its holdings in Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares in the last quarter. Angeles Wealth Management LLC raised its position in Boeing by 4.3% in the 4th quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock valued at $381,000 after buying an additional 60 shares during the last quarter. Bridge Creek Capital Management LLC lifted its stake in Boeing by 3.1% during the 1st quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock valued at $383,000 after acquiring an additional 60 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its holdings 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. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

The company’s 50 day moving average price is $170.15 and its 200-day moving average price is $176.78. The stock has a market cap of $93.80 billion, a P/E ratio of -42.88 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm earned ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

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.