Boeing (NYSE:BA) Trading Down 0.3% After Analyst Downgrade

The Boeing Company (NYSE:BA) traded down 0.3% during trading on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. 1,571,840 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,533,256 shares. The stock had previously closed at $170.48.

A number of other research firms also recently issued reports on BA. Susquehanna dropped their price target on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research report on Thursday, March 21st. UBS Group decreased their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Stifel Nicolaus reduced their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Bank of America dropped their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $226.71.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in BA. DAVENPORT & Co LLC grew its position in shares of Boeing by 2.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 24,850 shares of the aircraft producer’s stock worth $4,763,000 after buying an additional 545 shares during the period. Park Place Capital Corp lifted its position in shares of Boeing by 185.1% in the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 137 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Boeing by 81.0% in the third quarter. GHP Investment Advisors Inc. now owns 1,788 shares of the aircraft producer’s stock worth $331,000 after purchasing an additional 800 shares in the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in shares of Boeing by 26.7% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,498 shares of the aircraft producer’s stock worth $287,000 after purchasing an additional 316 shares in the last quarter. Finally, Strategic Blueprint LLC lifted its position in shares of Boeing by 24.4% in the third quarter. Strategic Blueprint LLC now owns 3,031 shares of the aircraft producer’s stock worth $581,000 after purchasing an additional 595 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 2.9 %

The firm has a market capitalization of $100.27 billion, a price-to-earnings ratio of -44.66, a P/E/G ratio of 135.00 and a beta of 1.52. The stock’s fifty day moving average is $188.03 and its two-hundred day moving average is $206.89.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter last year, the company posted ($1.75) earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post 0.32 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.