Bank of America Lowers Boeing (NYSE:BA) Price Target to $150.00

Boeing (NYSE:BA – Get Rating) had its price objective reduced by analysts at Bank of America from $180.00 to $150.00 in a research note issued to investors on Tuesday, The Fly reports. Bank of America‘s price target would indicate a potential upside of 20.92% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Langenberg & Company assumed coverage on Boeing in a report on Wednesday, March 9th. They set a “buy” rating on the stock. Wolfe Research started coverage on Boeing in a report on Wednesday, February 16th. They issued a “market perform” rating for the company. The Goldman Sachs Group set a $300.00 price target on Boeing and gave the company a “buy” rating in a research report on Wednesday, January 26th. Susquehanna Bancshares decreased their price target on Boeing from $243.00 to $193.00 in a research note on Thursday, April 28th. Finally, Wells Fargo & Company decreased their target price on Boeing from $250.00 to $214.00 in a research note on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Buy” and an average price target of $225.90.

NYSE:BA opened at $124.05 on Tuesday. The stock has a fifty day moving average price of $171.87 and a two-hundred day moving average price of $194.80. The stock has a market capitalization of $73.39 billion, a price-to-earnings ratio of -15.00 and a beta of 1.47. Boeing has a 1 year low of $120.28 and a 1 year high of $258.40.

Boeing (NYSE:BA – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($2.48). The company had revenue of $13.99 billion during the quarter, compared to analysts’ expectations of $15.90 billion. During the same period in the previous year, the company posted ($1.53) EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Boeing will post -0.12 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC purchased a new stake in Boeing in the fourth quarter worth $27,000. Strategic Asset Management LLC grew its position in shares of Boeing by 102.9% during the fourth quarter. Strategic Asset Management LLC now owns 138 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 70 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Boeing during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. lifted its stake in shares of Boeing by 1,092.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 155 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Global Trust Asset Management LLC lifted its stake in shares of Boeing by 1,427.3% in the 4th quarter. Global Trust Asset Management LLC now owns 168 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 53.96% of the company’s stock.

Boeing Company Profile (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Read More