Boeing (NYSE:BA) Price Target Cut to $230.00 by Analysts at JPMorgan Chase & Co.

Boeing (NYSE:BAGet Free Report) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $270.00 to $230.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the aircraft producer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.65% from the company’s current price.

BA has been the subject of several other research reports. Wells Fargo & Company cut their price objective on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. Susquehanna cut their price target on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Bank of America cut their price target on Boeing from $225.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Stifel Nicolaus started coverage on Boeing in a report on Friday, December 1st. They issued a “buy” rating and a $265.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $242.65.

View Our Latest Analysis on Boeing

Boeing Stock Performance

NYSE BA opened at $187.53 on Monday. Boeing has a twelve month low of $176.25 and a twelve month high of $267.54. The stock has a market capitalization of $114.42 billion, a PE ratio of -50.96, a P/E/G ratio of 24.80 and a beta of 1.52. The stock has a 50-day simple moving average of $201.07 and a 200 day simple moving average of $210.13.

Boeing (NYSE:BAGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the firm posted ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Boeing will post 1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Boeing by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after buying an additional 892,446 shares during the last quarter. BlackRock Inc. boosted its position in Boeing by 2.4% in the 2nd quarter. BlackRock Inc. now owns 36,819,108 shares of the aircraft producer’s stock valued at $7,774,723,000 after buying an additional 868,582 shares during the last quarter. State Street Corp boosted its position in Boeing by 1.5% in the 2nd quarter. State Street Corp now owns 26,416,857 shares of the aircraft producer’s stock valued at $5,578,184,000 after buying an additional 392,811 shares during the last quarter. Capital Research Global Investors boosted its position in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after buying an additional 16,041,103 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Company Profile

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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.

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