Boeing (NYSE:BA) Trading Down 0.3% After Analyst Downgrade

The Boeing Company (NYSE:BA) shares fell 0.3% on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. 1,571,840 shares were traded during trading, a decline of 84% from the average session volume of 9,533,256 shares. The stock had previously closed at $170.48.

Several other equities research analysts also recently weighed in on the stock. UBS Group decreased their target price on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Bank of America decreased their target price on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Sanford C. Bernstein decreased their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Susquehanna cut their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Finally, Melius Research reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $226.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BA. CNB Bank boosted 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 stake in Boeing during the fourth quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new stake in Boeing during the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing during the fourth quarter worth approximately $28,000. Finally, Vima LLC acquired a new stake in Boeing during the fourth quarter worth approximately $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

The stock’s 50-day moving average is $188.81 and its 200-day moving average is $207.19. The stock has a market cap of $103.22 billion, a price-to-earnings ratio of -45.97, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52.

Boeing (NYSE:BA) 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 firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter last year, the business posted ($1.75) EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Analysts predict that The Boeing Company will post 0.32 EPS for the current fiscal 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.