Boeing (NYSE:BA) Trading Down 0.1% on Analyst Downgrade

Shares of The Boeing Company (NYSE:BA) were down 0.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $175.55 and last traded at $175.90. Approximately 1,982,098 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 7,604,622 shares. The stock had previously closed at $176.06.

A number of other research analysts have also recently issued reports on BA. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.11.

Institutional Investors Weigh In On Boeing

A number of large investors have recently bought and sold shares of the stock. Sugar Maple Asset Management LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in Boeing during the 4th quarter valued at $28,000. Cedar Wealth Management LLC acquired a new position in Boeing during the third quarter worth $30,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Boeing in the fourth quarter valued at $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

The stock has a market capitalization of $108.40 billion, a price-to-earnings ratio of -13.59 and a beta of 1.52. The business’s fifty day moving average price is $166.42 and its 200-day moving average price is $164.29.

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.