Citigroup Cuts Boeing (NYSE:BA) Price Target to $209.00

Boeing (NYSE:BA) had its target price cut by Citigroup from $224.00 to $209.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

BA has been the subject of several other reports. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday. Finally, Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.79.

Boeing Price Performance

Shares of NYSE BA opened at $155.00 on Tuesday. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The company has a market capitalization of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57. The business has a 50-day moving average of $161.10 and a two-hundred day moving average of $172.64.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the firm earned ($0.82) earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts expect that Boeing will post -5.35 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. Spectrum Financial Alliance Ltd LLC increased its position in Boeing by 12.3% during the third quarter. Spectrum Financial Alliance Ltd LLC now owns 265,490 shares of the aircraft producer’s stock worth $40,365,000 after buying an additional 29,115 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its position in Boeing by 3.6% during the third quarter. Wealth Alliance Advisory Group LLC now owns 3,933 shares of the aircraft producer’s stock worth $598,000 after buying an additional 135 shares in the last quarter. Chicago Capital LLC increased its position in Boeing by 3.5% during the third quarter. Chicago Capital LLC now owns 4,858 shares of the aircraft producer’s stock worth $739,000 after buying an additional 165 shares in the last quarter. Embree Financial Group increased its position in Boeing by 52.0% during the third quarter. Embree Financial Group now owns 3,109 shares of the aircraft producer’s stock worth $473,000 after buying an additional 1,063 shares in the last quarter. Finally, TriaGen Wealth Management LLC increased its position in Boeing by 335.3% during the third quarter. TriaGen Wealth Management LLC now owns 12,736 shares of the aircraft producer’s stock worth $1,936,000 after buying an additional 9,810 shares in the last quarter. Institutional investors and hedge funds 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.