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

The Boeing Company (NYSE:BA) hit a new 52-week low on Thursday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $160.61 and last traded at $161.66, with a volume of 3521363 shares traded. The stock had previously closed at $164.33.

Several other analysts have also commented on BA. Sanford C. Bernstein decreased their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. UBS Group reduced their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Wells Fargo & Company reduced their price target on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Finally, Northcoast Research lowered 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus target price of $222.41.

Institutional Investors Weigh In On Boeing

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock worth $12,642,519,000 after purchasing an additional 892,446 shares during the period. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Morgan Stanley raised its position in Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after acquiring an additional 91,801 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Boeing by 1.1% in the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

The firm has a market cap of $102.05 billion, a price-to-earnings ratio of -47.12, a PEG ratio of 130.13 and a beta of 1.52. The business’s 50 day moving average price is $186.53 and its 200 day moving average price is $206.46.

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 firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’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) EPS. Sell-side analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current fiscal 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.