Wells Fargo & Company Trims Boeing (NYSE:BA) Target Price to $110.00

Boeing (NYSE:BA) had its price target cut by Wells Fargo & Company from $119.00 to $110.00 in a report released on Tuesday, Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

Several other brokerages also recently commented on BA. Robert W. Baird reduced their price objective on shares of Boeing from $300.00 to $240.00 and set an outperform rating on the stock in a research report on Monday, June 3rd. Susquehanna reiterated a positive rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Baird R W upgraded Boeing to a strong-buy rating in a report on Monday, June 3rd. Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an outperform rating on the stock in a research note on Monday, August 5th. Finally, Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a buy rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $206.00.

Boeing Price Performance

NYSE:BA opened at $150.52 on Tuesday. The firm has a market capitalization of $92.40 billion, a price-to-earnings ratio of -42.40 and a beta of 1.57. The business has a 50 day simple moving average of $166.12 and a 200-day simple moving average of $175.36. Boeing has a 1 year low of $149.49 and a 1 year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the firm earned ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, analysts expect that Boeing will post -4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Lazari Capital Management Inc. boosted its stake in Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Sanders Morris Harris LLC boosted its position in shares of Boeing by 869.1% in the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after purchasing an additional 20,425 shares in the last quarter. Park Avenue Securities LLC grew its stake in Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after buying an additional 1,805 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Boeing during the 2nd quarter valued at about $21,405,000. Finally, Williams Financial LLC purchased a new stake in Boeing in the second quarter valued at about $1,637,000. 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.