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

Boeing (NYSE:BA) had its target price lowered by Citigroup from $224.00 to $209.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

A number of other brokerages have also commented on BA. Sanford C. Bernstein lowered their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.32.

Boeing Trading Up 0.3 %

Shares of BA stock opened at $155.31 on Tuesday. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The firm’s 50 day moving average is $161.36 and its 200-day moving average is $172.88. The firm has a market capitalization of $95.34 billion, a price-to-earnings ratio of -43.75 and a beta of 1.57.

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

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspire Advisors LLC grew its holdings in shares of Boeing by 8.1% during the third quarter. Inspire Advisors LLC now owns 2,844 shares of the aircraft producer’s stock worth $432,000 after buying an additional 214 shares in the last quarter. Aspiriant LLC grew its stake in shares of Boeing by 26.3% during the 3rd quarter. Aspiriant LLC now owns 1,403 shares of the aircraft producer’s stock worth $213,000 after acquiring an additional 292 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Boeing by 3.0% in the third quarter. Trust Point Inc. now owns 2,471 shares of the aircraft producer’s stock valued at $376,000 after purchasing an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Boeing by 18.7% in the third quarter. Aaron Wealth Advisors LLC now owns 2,029 shares of the aircraft producer’s stock worth $308,000 after purchasing an additional 320 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in Boeing by 624.4% during the third quarter. Claro Advisors LLC now owns 10,953 shares of the aircraft producer’s stock worth $1,665,000 after purchasing an additional 9,441 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.