Boeing (NYSE:BA) Price Target Cut to $190.00 by Analysts at JPMorgan Chase & Co.

Boeing (NYSE:BA) had its price target dropped by analysts at JPMorgan Chase & Co. from $195.00 to $190.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the aircraft producer’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.34% from the company’s current price.

Several other analysts have also issued reports on BA. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup decreased their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boeing has an average rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

BA stock opened at $150.39 on Monday. Boeing has a 1 year low of $137.03 and a 1 year high of $267.54. The company has a market cap of $92.97 billion, a P/E ratio of -11.66 and a beta of 1.57. The stock’s fifty day moving average price is $151.70 and its 200-day moving average price is $168.27.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the business earned ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts expect that Boeing will post -16.2 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in Boeing during the 3rd quarter worth $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing during the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the second quarter worth about $33,000. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter worth about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Boeing by 351.1% during 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 period. 64.82% of the stock is currently 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.