Northcoast Research Downgrades Boeing (NYSE:BA) to Sell

Boeing (NYSE:BA) was downgraded by stock analysts at Northcoast Research from a “neutral” rating to a “sell” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $140.00 target price on the aircraft producer’s stock. Northcoast Research’s price objective indicates a potential downside of 17.76% from the stock’s previous close.

BA has been the subject of a number of other reports. Bank of America cut their price target on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Morgan Stanley lowered their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Tuesday, March 26th. Sanford C. Bernstein lowered their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Finally, UBS Group lowered their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.35.

Boeing Stock Performance

Shares of BA stock opened at $170.24 on Wednesday. The stock has a fifty day moving average price of $191.08 and a 200 day moving average price of $207.28. The stock has a market cap of $103.87 billion, a PE ratio of -46.26, a P/E/G ratio of 116.39 and a beta of 1.52. Boeing has a 1 year low of $167.53 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the firm posted ($1.75) earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Boeing will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of BA. Moneta Group Investment Advisors LLC lifted its stake in shares of Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after acquiring an additional 16,041,103 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Jennison Associates LLC acquired a new stake in Boeing during the fourth quarter valued at approximately $960,397,000. Wellington Management Group LLP raised its stake in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.