Boeing (NYSE:BA) Cut to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein lowered shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $169.00 price objective on the aircraft producer’s stock, down from their previous price objective of $195.00.

Several other research firms have also recently commented on BA. Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird cut their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.42.

Boeing Stock Performance

Shares of BA stock opened at $154.59 on Wednesday. The company has a market capitalization of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57. Boeing has a 52 week low of $146.02 and a 52 week high of $267.54. The company’s 50 day moving average price is $157.46 and its two-hundred day moving average price is $171.00.

Boeing (NYSE:BA) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the firm posted ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that Boeing will post -16.22 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of the business. XML Financial LLC grew its position in shares of Boeing by 10.6% during the 3rd quarter. XML Financial LLC now owns 9,425 shares of the aircraft producer’s stock worth $1,433,000 after purchasing an additional 906 shares in the last quarter. GSG Advisors LLC boosted its stake in shares of Boeing by 7.8% in the third quarter. GSG Advisors LLC now owns 1,423 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 103 shares during the period. Kerusso Capital Management LLC grew its position in Boeing by 6.5% during the third quarter. Kerusso Capital Management LLC now owns 10,940 shares of the aircraft producer’s stock worth $1,663,000 after buying an additional 668 shares in the last quarter. Lindbrook Capital LLC increased its stake in Boeing by 2.2% during the 3rd quarter. Lindbrook Capital LLC now owns 12,444 shares of the aircraft producer’s stock worth $1,892,000 after acquiring an additional 266 shares during the period. Finally, Assetmark Inc. raised its holdings in Boeing by 65.2% in the 3rd quarter. Assetmark Inc. now owns 1,057 shares of the aircraft producer’s stock valued at $161,000 after acquiring an additional 417 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

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.