Boeing (NYSE:BA) Price Target Lowered to $209.00 at Citigroup

Boeing (NYSE:BA) had its target price cut by Citigroup from $224.00 to $209.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

BA has been the subject of a number of other research reports. Susquehanna reissued a positive rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a buy rating for the company in a research report on Tuesday, September 24th. Wells Fargo & Company lowered their price target on Boeing from $110.00 to $109.00 and set an underweight rating on the stock in a research report on Monday. DZ Bank cut Boeing from a buy rating to a hold rating and set a $152.00 price objective for the company. in a report on Tuesday. Finally, Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a buy rating on the stock in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $201.00.

Boeing Stock Performance

Shares of BA stock opened at $152.45 on Tuesday. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The business’s fifty day moving average is $161.80 and its 200 day moving average is $173.13. The company has a market capitalization of $93.59 billion, a PE ratio of -42.94 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the business posted ($0.82) EPS. The company’s revenue was down 14.6% on a year-over-year basis. On average, sell-side analysts forecast that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

Large investors have recently modified their holdings of the business. Madison Park Capital Advisors LLC lifted its holdings in Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the period. Bridge Creek Capital Management LLC raised its holdings in shares of Boeing by 3.1% during the first quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock valued at $383,000 after acquiring an additional 60 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares during the period. Angeles Wealth Management LLC boosted its holdings in Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after acquiring an additional 61 shares in the last quarter. Finally, IMS Capital Management boosted its holdings in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Company Profile

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.