Boeing (NYSE:BA) Downgraded to Hold at DZ Bank

Boeing (NYSE:BA) was downgraded by equities research analysts at DZ Bank from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Briefing.com reports. They currently have a $152.00 target price on the aircraft producer’s stock. DZ Bank’s target price indicates a potential upside of 1.95% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company cut their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $201.79.

Boeing Trading Down 1.3 %

Boeing stock opened at $149.10 on Tuesday. The firm has a market capitalization of $91.53 billion, a price-to-earnings ratio of -42.00 and a beta of 1.57. The firm has a 50 day simple moving average of $162.05 and a 200 day simple moving average of $173.41. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data 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 company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts forecast that Boeing will post -5.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BA. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter valued at approximately $34,000. McClarren Financial Advisors Inc. increased its stake in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the period. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing in the second quarter valued at $39,000. 64.82% of the stock is owned by hedge funds and other 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.