Boeing (NYSE:BA) PT Lowered to $240.00 at Jefferies Financial Group

Boeing (NYSE:BA) had its price target cut by equities researchers at Jefferies Financial Group from $270.00 to $240.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Jefferies Financial Group’s target price points to a potential upside of 53.97% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.83.

Boeing Stock Performance

Shares of NYSE:BA opened at $155.87 on Monday. Boeing has a one year low of $151.65 and a one year high of $267.54. The stock has a market cap of $95.69 billion, a PE ratio of -43.91 and a beta of 1.57. The business’s fifty day moving average price is $170.15 and its two-hundred day moving average price is $176.78.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts predict that Boeing will post -4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC lifted its position in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.