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

Boeing (NYSE:BA) had its price objective trimmed by Morgan Stanley from $195.00 to $170.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the aircraft producer’s stock.

BA has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday. Finally, DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have given 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 a consensus price target of $191.79.

Boeing Trading Up 0.5 %

BA stock traded up $0.74 during mid-day trading on Thursday, hitting $155.94. The stock had a trading volume of 2,307,684 shares, compared to its average volume of 8,099,113. The firm has a fifty day simple moving average of $160.61 and a 200 day simple moving average of $172.01. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The firm has a market capitalization of $95.73 billion, a P/E ratio of -43.72 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($3.26) EPS. As a group, equities analysts expect that Boeing will post -5.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BA. Brookstone Capital Management lifted its position in shares of Boeing by 5.8% during the first quarter. Brookstone Capital Management now owns 12,613 shares of the aircraft producer’s stock valued at $2,434,000 after purchasing an additional 689 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Boeing during the first quarter valued at about $58,000. Atlantic Union Bankshares Corp lifted its position in shares of Boeing by 8.4% during the first quarter. Atlantic Union Bankshares Corp now owns 1,163 shares of the aircraft producer’s stock valued at $224,000 after purchasing an additional 90 shares in the last quarter. Sawyer & Company Inc bought a new position in shares of Boeing during the first quarter valued at about $82,000. Finally, Norway Savings Bank raised its position in Boeing by 16.8% in the first quarter. Norway Savings Bank now owns 7,581 shares of the aircraft producer’s stock worth $1,463,000 after acquiring an additional 1,090 shares during the period. 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.