Boeing (NYSE:BA) Stock Price Down 0.5% After Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price fell 0.5% on Friday after Morgan Stanley lowered their price target on the stock from $195.00 to $170.00. Morgan Stanley currently has an equal weight rating on the stock. Boeing traded as low as $154.12 and last traded at $154.59. 1,721,512 shares were traded during mid-day trading, a decline of 79% from the average session volume of 8,038,787 shares. The stock had previously closed at $155.31.

BA has been the topic of several other research reports. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup reduced their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday. Sanford C. Bernstein dropped their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.79.

Institutional Trading of Boeing

Several large investors have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth about $34,000. McClarren Financial Advisors Inc. raised its position in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter worth $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

The stock has a market cap of $94.90 billion, a PE ratio of -43.55 and a beta of 1.57. The company’s fifty day moving average is $161.36 and its 200-day moving average is $172.88.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. Analysts expect that The Boeing Company will post -5.35 EPS for the current year.

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.