Boeing (NYSE:BA) Hits New 1-Year Low After Analyst Downgrade

The Boeing Company (NYSE:BA) shares hit a new 52-week low during mid-day trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $270.00 to $260.00. Stifel Nicolaus currently has a buy rating on the stock. Boeing traded as low as $175.05 and last traded at $175.18, with a volume of 1580878 shares traded. The stock had previously closed at $178.12.

Other equities analysts have also recently issued research reports about the company. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Tuesday, March 26th. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Company cut their price target on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. UBS Group dropped their target price on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their target price on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $238.88.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing during the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing during the 4th quarter worth $28,000. Evolution Advisers Inc. purchased a new position in Boeing during the 4th quarter worth $28,000. CNB Bank grew its position in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Finally, Vima LLC purchased a new position in Boeing during the 4th quarter worth $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 2.0 %

The firm has a market cap of $106.54 billion, a PE ratio of -47.45, a P/E/G ratio of 46.52 and a beta of 1.52. The company’s fifty day moving average price is $195.75 and its two-hundred day moving average price is $208.38.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the company posted ($1.75) EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts predict that The Boeing Company will post 0.98 earnings per share 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.