Boeing (NYSE:BA) Price Target Cut to $170.00 by Analysts at Morgan Stanley

Boeing (NYSE:BA) had its price target cut by Morgan Stanley from $195.00 to $170.00 in a research report report published on Friday, Benzinga reports. They currently have an equal weight rating on the aircraft producer’s stock.

BA has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Sanford C. Bernstein cut their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Down 0.2 %

NYSE:BA opened at $155.00 on Friday. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The stock has a fifty day simple moving average of $161.10 and a 200-day simple moving average of $172.64. The company has a market capitalization of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last announced its 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 business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the firm posted ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that Boeing will post -5.35 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Large investors have recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted 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 worth $37,000 after purchasing an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of 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 buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $39,000. 64.82% of the stock is currently 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.