Wells Fargo & Company Cuts Boeing (NYSE:BA) Price Target to $85.00

Boeing (NYSE:BA) had its price objective reduced by Wells Fargo & Company from $86.00 to $85.00 in a report released on Monday, Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

Several other research analysts have also weighed in on the company. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Morgan Stanley cut their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. 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 research note on Tuesday, September 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, UBS Group lowered their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Trading Down 2.5 %

Shares of BA opened at $147.18 on Monday. The stock has a market cap of $90.99 billion, a P/E ratio of -11.41 and a beta of 1.57. Boeing has a 1 year low of $144.13 and a 1 year high of $267.54. The stock’s 50-day moving average price is $156.17 and its two-hundred day moving average price is $170.60.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Boeing will post -16.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Boeing by 207.9% during the 1st quarter. Van ECK Associates Corp now owns 10,550 shares of the aircraft producer’s stock valued at $2,036,000 after purchasing an additional 7,124 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of Boeing by 114.3% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,975 shares of the aircraft producer’s stock worth $960,000 after buying an additional 2,654 shares during the period. Avidian Wealth Solutions LLC grew its stake in Boeing by 2.6% in the 1st quarter. Avidian Wealth Solutions LLC now owns 5,017 shares of the aircraft producer’s stock valued at $968,000 after buying an additional 129 shares during the last quarter. Catalina Capital Group LLC bought a new position in Boeing in the 1st quarter valued at about $224,000. Finally, Carson Advisory Inc. lifted its position in Boeing by 32.1% during the first quarter. Carson Advisory Inc. now owns 4,948 shares of the aircraft producer’s stock worth $955,000 after acquiring an additional 1,203 shares during 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.