Wells Fargo & Company Trims Boeing (NYSE:BA) Target Price to $109.00

Boeing (NYSE:BA) had its target price cut by Wells Fargo & Company from $110.00 to $109.00 in a research note published on Monday, Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

Several other analysts have also issued reports on BA. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Sanford C. Bernstein decreased their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. TD Cowen dropped their price target on Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $199.32.

Boeing Trading Up 0.3 %

NYSE:BA opened at $155.31 on Monday. The company has a market cap of $95.34 billion, a PE ratio of -43.75 and a beta of 1.57. The company has a 50 day simple moving average of $161.36 and a two-hundred day simple moving average of $172.88. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the firm earned ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. Research analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors have recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. boosted its stake in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the 2nd quarter worth about $39,000. 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.