The Goldman Sachs Group Lowers Boeing (NYSE:BA) Price Target to $257.00

Boeing (NYSE:BAGet Free Report) had its target price lowered by research analysts at The Goldman Sachs Group from $268.00 to $257.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 37.04% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen dropped their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada cut their price objective on Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. William Blair started coverage on Boeing in a report on Tuesday, December 12th. They issued an “outperform” rating on the stock. Stifel Nicolaus began coverage on Boeing in a research note on Friday, December 1st. They set a “buy” rating and a $265.00 price target for the company. Finally, Barclays increased their price objective on shares of Boeing from $210.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 6th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.65.

Check Out Our Latest Analysis on BA

Boeing Price Performance

BA stock opened at $187.53 on Monday. The stock has a market capitalization of $114.42 billion, a P/E ratio of -50.96, a P/E/G ratio of 24.80 and a beta of 1.52. Boeing has a 1-year low of $176.25 and a 1-year high of $267.54. The business has a fifty day moving average price of $201.07 and a 200-day moving average price of $210.13.

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

Institutional Trading of Boeing

Several institutional investors have recently made changes to their positions in BA. CNB Bank raised its position in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the fourth quarter valued at $26,000. Evolution Advisers Inc. bought a new stake in Boeing in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing in the 4th quarter worth $28,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Boeing during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

About Boeing

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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.

Further Reading

Analyst Recommendations for Boeing (NYSE:BA)

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