Boeing (NYSE:BA) Price Target Lowered to $190.00 at TD Cowen

Boeing (NYSE:BA) had its price target cut by TD Cowen from $200.00 to $190.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

Several other equities research analysts have also issued reports on BA. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a buy rating on the stock in a report on Tuesday, September 24th. Susquehanna reiterated a positive rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Sanford C. Bernstein dropped their price target on Boeing from $222.00 to $207.00 and set an outperform rating for the company in a research note on Monday, August 5th. Wells Fargo & Company reduced their price objective on Boeing from $110.00 to $109.00 and set an underweight rating on the stock in a research report on Monday. Finally, Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a buy rating for the company in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of Moderate Buy and an average target price of $204.56.

Boeing Price Performance

Shares of NYSE:BA opened at $149.10 on Monday. The company’s 50 day simple moving average is $162.05 and its 200 day simple moving average is $173.41. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a market capitalization of $91.53 billion, a price-to-earnings ratio of -42.00 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.82) earnings per share. As a group, analysts anticipate that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BA. Vanguard Group Inc. raised its position in Boeing by 2.5% in the 1st 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 during the last quarter. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Boeing by 1.4% during the second 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. Jennison Associates LLC boosted its holdings in Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

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.