Boeing (NYSE:BA) Price Target Cut to $207.00 by Analysts at Citigroup

Boeing (NYSE:BA) had its price target cut by analysts at Citigroup from $209.00 to $207.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price target would suggest a potential upside of 16.07% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Robert W. Baird reduced their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.11.

Boeing Trading Up 2.0 %

Shares of NYSE:BA opened at $178.34 on Friday. The stock has a market capitalization of $110.25 billion, a PE ratio of -13.82 and a beta of 1.52. Boeing has a 1 year low of $137.03 and a 1 year high of $217.59. The firm has a fifty day moving average price of $164.90 and a 200 day moving average price of $164.53.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Boeing will post -16.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several large investors have recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in Boeing during the fourth quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in Boeing during the 4th quarter valued at $28,000. Cedar Wealth Management LLC bought a new position in Boeing in the 3rd quarter valued at $30,000. Finally, Heck Capital Advisors LLC acquired a new position in Boeing in the fourth quarter worth $33,000. Institutional investors own 64.82% of the company’s stock.

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.