Boeing (NYSE:BA) Price Target Cut to $200.00

Boeing (NYSE:BA) had its price target dropped by equities research analysts at Robert W. Baird from $240.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the aircraft producer’s stock. Robert W. Baird’s price objective suggests a potential upside of 27.34% from the company’s current price.

BA has been the subject of several other reports. Wells Fargo & Company reduced their price target on Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.68.

Boeing Price Performance

Boeing stock opened at $157.06 on Thursday. The stock has a market cap of $96.42 billion, a price-to-earnings ratio of -44.24 and a beta of 1.57. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a 50-day moving average of $160.61 and a two-hundred day moving average of $172.01.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.85) by ($5.59). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the business posted ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. 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. Lazari Capital Management Inc. lifted its holdings in shares of Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the period. Czech National Bank lifted its holdings in Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after acquiring an additional 9,281 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new position in Boeing in the third quarter valued at approximately $11,237,000. Sanctuary Advisors LLC acquired a new position in Boeing in the second quarter valued at approximately $21,405,000. Finally, Williams Financial LLC acquired a new position in Boeing in the second quarter valued at approximately $1,637,000. 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.