Boeing (NYSE:BA) PT Lowered to $224.00

Boeing (NYSE:BA) had its price target dropped by equities research analysts at Citigroup from $252.00 to $224.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price objective indicates a potential upside of 33.92% from the stock’s current price.

A number of other equities research analysts also recently weighed in on BA. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. The Goldman Sachs Group reduced their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research note on Wednesday, April 17th. Sanford C. Bernstein reduced their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.41.

Boeing Price Performance

BA opened at $167.26 on Thursday. Boeing has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The firm’s fifty day moving average price is $186.53 and its two-hundred day moving average price is $206.46. The company has a market capitalization of $102.05 billion, a P/E ratio of -47.12, a P/E/G ratio of 130.13 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly 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 for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the firm earned ($1.75) EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Boeing will post 0.32 EPS for the current fiscal year.

Institutional Trading of Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its stake in shares of Boeing by 81.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,788 shares of the aircraft producer’s stock valued at $331,000 after acquiring an additional 800 shares during the last quarter. Strategic Blueprint LLC increased its stake in shares of Boeing by 24.4% in the 3rd quarter. Strategic Blueprint LLC now owns 3,031 shares of the aircraft producer’s stock valued at $581,000 after acquiring an additional 595 shares during the last quarter. Secure Asset Management LLC increased its stake in shares of Boeing by 20.5% in the 3rd quarter. Secure Asset Management LLC now owns 1,709 shares of the aircraft producer’s stock valued at $328,000 after acquiring an additional 291 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Boeing by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 303,662 shares of the aircraft producer’s stock valued at $58,206,000 after acquiring an additional 5,888 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its stake in shares of Boeing by 7.8% in the 3rd quarter. MBM Wealth Consultants LLC now owns 4,864 shares of the aircraft producer’s stock valued at $899,000 after acquiring an additional 350 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

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.