Wells Fargo & Company Cuts Boeing (NYSE:BA) Price Target to $210.00

Boeing (NYSE:BA – Get Rating) had its price objective decreased by analysts at Wells Fargo & Company from $214.00 to $210.00 in a research note issued on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 31.82% from the company’s previous close.

Several other equities analysts have also commented on the stock. Susquehanna lowered their price objective on shares of Boeing from $193.00 to $192.00 in a research report on Friday, May 20th. JPMorgan Chase & Co. increased their price objective on shares of Boeing from $188.00 to $200.00 in a research report on Thursday. Royal Bank of Canada set a $200.00 price objective on shares of Boeing and gave the company an “outperform” rating in a research report on Thursday, July 14th. Morgan Stanley lowered their price objective on shares of Boeing from $288.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Finally, StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Boeing Stock Performance

Shares of NYSE:BA opened at $159.31 on Thursday. The firm has a fifty day moving average price of $139.70 and a 200 day moving average price of $168.80. Boeing has a fifty-two week low of $113.02 and a fifty-two week high of $241.15. The firm has a market cap of $94.25 billion, a price-to-earnings ratio of -19.26 and a beta of 1.36.

Boeing (NYSE:BA – Get Rating) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.23). The company had revenue of $16.68 billion for the quarter, compared to analysts’ expectations of $17.53 billion. During the same period last year, the company posted $0.40 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Boeing will post -1.12 earnings per share for the current year.

Institutional Trading of Boeing

Institutional investors have recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. acquired a new stake in Boeing in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. boosted its stake in Boeing by 1,092.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 155 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in Boeing by 42.1% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 189 shares of the aircraft producer’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. Activest Wealth Management boosted its stake in Boeing by 118.5% in the 2nd quarter. Activest Wealth Management now owns 271 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 147 shares in the last quarter. Finally, AHL Investment Management Inc. acquired a new stake in Boeing during the 4th quarter valued at approximately $39,000. 53.96% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

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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.