Boeing (NYSE:BA) Price Target Cut to $86.00 by Analysts at Wells Fargo & Company

Boeing (NYSE:BA) had its target price decreased by Wells Fargo & Company from $109.00 to $86.00 in a report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the aircraft producer’s stock.

BA has been the subject of several other research reports. Sanford C. Bernstein decreased their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Susquehanna reduced their price objective on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. TD Cowen lowered their target price 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. Finally, Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average 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 two-hundred day moving average price is $171.64. Boeing has a one year low of $146.02 and a one year high of $267.54. The company has a market capitalization of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) EPS. On average, equities analysts anticipate that Boeing will post -5.35 EPS for the current year.

Institutional Trading of Boeing

Institutional investors have recently made changes to their positions in the business. Financial Advocates Investment Management raised its position in Boeing by 4.1% in the third quarter. Financial Advocates Investment Management now owns 30,067 shares of the aircraft producer’s stock worth $4,571,000 after purchasing an additional 1,184 shares in the last quarter. Solidarity Wealth LLC lifted its position in shares of Boeing by 20.0% during the 3rd quarter. Solidarity Wealth LLC now owns 1,530 shares of the aircraft producer’s stock worth $233,000 after buying an additional 255 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in Boeing in the 3rd quarter valued at $200,000. Tandem Capital Management Corp ADV grew its position in Boeing by 7.7% in the third quarter. Tandem Capital Management Corp ADV now owns 8,364 shares of the aircraft producer’s stock valued at $1,272,000 after acquiring an additional 595 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in Boeing by 84.6% during the third quarter. JFS Wealth Advisors LLC now owns 3,920 shares of the aircraft producer’s stock worth $596,000 after acquiring an additional 1,797 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.