Boeing (NYSE:BA) Shares Down 0% After Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price traded down 0% on Thursday after Morgan Stanley lowered their price target on the stock from $195.00 to $170.00. Morgan Stanley currently has an equal weight rating on the stock. Boeing traded as low as $154.25 and last traded at $154.89. 1,760,615 shares were traded during mid-day trading, a decline of 78% from the average session volume of 8,047,674 shares. The stock had previously closed at $154.90.

Several other analysts have also recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their target price 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. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group reduced their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $198.79.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Assets Advisory LLC acquired a new stake in shares of Boeing in the 1st quarter valued at $272,312,000. Vanguard Group Inc. boosted its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

The company’s 50 day moving average price is $161.10 and its 200 day moving average price is $172.64. The company has a market cap of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results 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 firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, analysts predict that The Boeing Company will post -5.35 EPS for the current year.

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.