Boeing (NYSE:BA) Stock Price Down 0.8% on Analyst Downgrade

The Boeing Company (NYSE:BA)’s stock price fell 0.8% on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $268.00 to $257.00. The Goldman Sachs Group currently has a buy rating on the stock. Boeing traded as low as $188.30 and last traded at $189.89. 2,836,312 shares were traded during mid-day trading, a decline of 73% from the average session volume of 10,463,703 shares. The stock had previously closed at $191.41.

Several other equities research analysts also recently issued reports on BA. TD Cowen cut their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays boosted their price target on Boeing from $210.00 to $235.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 6th. Northcoast Research cut Boeing from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus initiated coverage on Boeing in a research report on Friday, December 1st. They issued a “buy” rating and a $265.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $242.65.

Hedge Funds Weigh In On Boeing

Institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new position in Boeing in the 4th quarter valued at $5,010,000. Accent Capital Management LLC purchased a new stake in shares of Boeing in the 4th quarter valued at about $39,000. Skyline Advisors Inc. purchased a new stake in shares of Boeing in the 4th quarter valued at about $561,000. BlueChip Wealth Advisors LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $425,000. Finally, Walden Wealth Partners LLC purchased a new position in shares of Boeing during the 4th quarter valued at about $1,001,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Up 2.4 %

The stock has a fifty day moving average of $200.81 and a two-hundred day moving average of $209.96. The company has a market capitalization of $117.12 billion, a PE ratio of -51.89, a PEG ratio of 30.94 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 the consensus estimate of $21.14 billion. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.75) earnings per share. Equities analysts forecast that The Boeing Company will post 1.55 EPS for the current year.

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.