Boeing (NYSE:BA) PT Lowered to $200.00 at TD Cowen

Boeing (NYSE:BA) had its price target lowered by TD Cowen from $230.00 to $200.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

A number of other equities research analysts have also recently commented on BA. Wells Fargo & Company reissued an underweight rating and issued a $119.00 target price (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Bank of America increased their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a neutral rating in a research report on Thursday, June 13th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a buy rating for the company in a research note on Monday, September 23rd. UBS Group dropped 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 reduced 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $206.00.

Boeing Price Performance

BA stock opened at $150.52 on Tuesday. Boeing has a 1 year low of $149.49 and a 1 year high of $267.54. The company has a market cap of $92.40 billion, a P/E ratio of -42.40 and a beta of 1.57. The firm has a 50-day moving average of $166.12 and a 200 day moving average of $175.36.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share 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. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) EPS. On average, equities research analysts expect that Boeing will post -4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $26,000. Vima LLC bought a new stake in shares of Boeing during the 4th quarter valued at $34,000. Accent Capital Management LLC bought a new stake in shares of Boeing during the 4th quarter valued at $39,000. Frank Rimerman Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at $48,000. Finally, Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.