Citigroup Trims Boeing (NYSE:BA) Target Price to $224.00

Boeing (NYSE:BA) had its price target reduced by Citigroup from $252.00 to $224.00 in a research report sent to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the aircraft producer’s stock.

Other analysts also recently issued reports about the company. Melius reiterated a hold rating on shares of Boeing in a research report on Monday, April 1st. Morgan Stanley decreased their target price on Boeing from $235.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. Benchmark reissued a buy rating and issued a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Wells Fargo & Company cut their price target on Boeing from $225.00 to $215.00 and set an equal weight rating for the company in a report on Thursday, February 1st. Finally, Susquehanna cut their price target on Boeing from $265.00 to $230.00 and set a positive rating for the company in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $222.41.

Boeing Trading Up 0.2 %

Shares of BA stock opened at $167.22 on Thursday. The business’s 50 day moving average is $186.53 and its two-hundred day moving average is $206.55. Boeing has a twelve month low of $159.70 and a twelve month high of $267.54. The company has a market capitalization of $102.65 billion, a P/E ratio of -47.10, a price-to-earnings-growth ratio of 140.08 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm earned ($1.75) earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Boeing will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. Strategic Blueprint LLC boosted its position in shares of Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after buying an additional 264 shares during the period. Morse Asset Management Inc boosted its position in shares of Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after buying an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. boosted its position in shares of Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after buying an additional 33,904 shares during the period. California Public Employees Retirement System boosted its position in shares of Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after buying an additional 19,847 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Boeing by 5.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock worth $7,594,000 after buying an additional 1,596 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.