Boeing (NYSE:BA) Price Target Cut to $190.00

Boeing (NYSE:BA) had its target price cut by research analysts at Barclays from $235.00 to $190.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the aircraft producer’s stock. Barclays‘s price target would indicate a potential upside of 11.88% from the stock’s previous close.

Several other research analysts have also recently commented on BA. Sanford C. Bernstein reduced their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. UBS Group cut their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Wednesday, April 17th. Finally, 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 report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average target price of $226.71.

Boeing Price Performance

Shares of BA stock opened at $169.82 on Monday. The stock has a market cap of $103.61 billion, a P/E ratio of -46.15, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52. Boeing has a one year low of $167.53 and a one year high of $267.54. The stock has a fifty day moving average price of $190.29 and a 200 day moving average price of $207.43.

Boeing (NYSE:BA) last issued its 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 firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned ($1.75) earnings per share. Equities research analysts anticipate that Boeing will post 0.32 EPS for the current year.

Institutional Trading of Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CNB Bank increased its position in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing in the fourth quarter worth about $26,000. Evolution Advisers Inc. acquired a new stake in Boeing in the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing in the fourth quarter worth about $28,000. Finally, True Wealth Design LLC acquired a new stake in Boeing in the fourth quarter worth about $33,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.