Boeing (NYSE:BA) Trading Down 0% After Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price was down 0% during mid-day trading on Thursday after Sanford C. Bernstein lowered their price target on the stock from $207.00 to $195.00. Sanford C. Bernstein currently has an outperform rating on the stock. Boeing traded as low as $154.25 and last traded at $154.89. Approximately 1,760,615 shares traded hands during trading, a decline of 78% from the average daily volume of 8,047,674 shares. The stock had previously closed at $154.90.

BA has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Jefferies Financial Group cut their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.37.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently bought and sold shares of BA. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. raised its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the period. 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 purchasing an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

The firm has a market capitalization of $95.08 billion, a price-to-earnings ratio of -43.63 and a beta of 1.57. The business has a fifty day moving average price of $161.63 and a 200 day moving average price of $173.00.

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

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.