Robert W. Baird Lowers Boeing (NYSE:BA) Price Target to $200.00

Boeing (NYSE:BA) had its price objective cut by Robert W. Baird from $240.00 to $200.00 in a research note published on Thursday morning, Benzinga reports. They currently have an outperform rating on the aircraft producer’s stock.

A number of other analysts have also issued reports on BA. Wells Fargo & Company lowered their price target on Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. TD Cowen lowered their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein lowered their price objective on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, 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 note on Monday, September 23rd. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Price Performance

Shares of NYSE:BA opened at $155.01 on Thursday. The business’s 50 day moving average price is $159.68 and its 200-day moving average price is $171.66. The firm has a market capitalization of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54.

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

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. Lazari Capital Management Inc. raised its holdings in shares of Boeing by 55.7% in the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after buying an additional 8,309 shares during the period. Czech National Bank increased its holdings in Boeing by 8.4% during the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after purchasing an additional 9,281 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in Boeing during the 3rd quarter worth about $11,237,000. Sanctuary Advisors LLC purchased a new stake in Boeing during the 2nd quarter worth about $21,405,000. Finally, Williams Financial LLC purchased a new stake in Boeing during the 2nd quarter worth about $1,637,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.