The Boeing Company (NYSE:BA – Get Free Report)’s stock price fell 0.5% during trading on Tuesday after Sanford C. Bernstein lowered their price target on the stock from $272.00 to $240.00. Sanford C. Bernstein currently has an outperform rating on the stock. Boeing traded as low as $180.32 and last traded at $180.63. 1,671,224 shares were traded during trading, a decline of 83% from the average session volume of 9,854,744 shares. The stock had previously closed at $181.56.
Several other equities research analysts have also commented on the stock. Susquehanna cut their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research note on Thursday, March 21st. TD Cowen dropped their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Royal Bank of Canada dropped their price objective on shares of Boeing from $285.00 to $260.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.44.
Institutional Trading of Boeing
A number of institutional investors have recently added to or reduced their stakes in BA. CNB Bank raised its position in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing during the fourth quarter worth about $26,000. Evolution Advisers Inc. acquired a new position in Boeing during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing during the fourth quarter worth about $28,000. Finally, VisionPoint Advisory Group LLC acquired a new position in Boeing during the second quarter worth about $32,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Boeing Price Performance
The company has a market cap of $108.68 billion, a price-to-earnings ratio of -48.68, a PEG ratio of 46.93 and a beta of 1.52. The business’s 50-day simple moving average is $196.93 and its 200-day simple moving average is $208.76.
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.75) EPS. As a group, sell-side analysts forecast that The Boeing Company will post 0.98 EPS for the current year.
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.