Boeing (NYSE:BA) Trading Down 0.8% After Analyst Downgrade

The Boeing Company (NYSE:BAGet Free Report)’s share price traded down 0.8% on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $268.00 to $257.00. The Goldman Sachs Group currently has a buy rating on the stock. Boeing traded as low as $188.30 and last traded at $189.89. 2,836,312 shares were traded during mid-day trading, a decline of 73% from the average session volume of 10,463,703 shares. The stock had previously closed at $191.41.

Other equities analysts also recently issued reports about the stock. Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America lowered their target price on Boeing from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. UBS Group cut their price target on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. William Blair started coverage on Boeing in a report on Tuesday, December 12th. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada reduced their price target on Boeing from $285.00 to $260.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.65.

Read Our Latest Stock Analysis on BA

Institutional Trading of Boeing

Several hedge funds have recently made changes to their positions in the business. CNB Bank raised its position in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing in the fourth quarter valued at approximately $26,000. Evolution Advisers Inc. acquired a new position in Boeing during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Boeing during the 4th quarter worth $28,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Boeing during the second quarter worth $32,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

The company has a market capitalization of $114.42 billion, a price-to-earnings ratio of -50.96, a PEG ratio of 24.80 and a beta of 1.52. The stock has a 50 day simple moving average of $201.07 and a two-hundred day simple moving average of $210.13.

Boeing (NYSE:BAGet Free Report) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.75) EPS. Equities research analysts predict that The Boeing Company will post 1.9 EPS for the current year.

About Boeing

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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.

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