Wells Fargo & Company Trims Boeing (NYSE:BA) Target Price to $86.00

Boeing (NYSE:BA) had its price target decreased by Wells Fargo & Company from $109.00 to $86.00 in a report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the aircraft producer’s stock.

Several other research firms also recently weighed in on BA. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Sanford C. Bernstein cut their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Robert W. Baird reduced their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $191.79.

Boeing Stock Up 1.1 %

Boeing stock traded up $1.73 during trading on Thursday, hitting $156.93. The stock had a trading volume of 1,815,046 shares, compared to its average volume of 8,096,203. The stock’s 50 day moving average is $160.61 and its two-hundred day moving average is $172.01. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a market cap of $96.34 billion, a price-to-earnings ratio of -43.72 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management boosted its stake in Boeing by 5.8% in the first quarter. Brookstone Capital Management now owns 12,613 shares of the aircraft producer’s stock worth $2,434,000 after buying an additional 689 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Boeing during the first quarter valued at about $58,000. Atlantic Union Bankshares Corp grew its stake in shares of Boeing by 8.4% during the first quarter. Atlantic Union Bankshares Corp now owns 1,163 shares of the aircraft producer’s stock valued at $224,000 after buying an additional 90 shares during the last quarter. Sawyer & Company Inc purchased a new position in shares of Boeing in the first quarter worth about $82,000. Finally, Norway Savings Bank increased its holdings in shares of Boeing by 16.8% in the first quarter. Norway Savings Bank now owns 7,581 shares of the aircraft producer’s stock worth $1,463,000 after buying an additional 1,090 shares during the period. 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.