DZ Bank Lowers Boeing (NYSE:BA) to Hold

Boeing (NYSE:BA) was downgraded by research analysts at DZ Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $152.00 target price on the aircraft producer’s stock. DZ Bank’s price objective would indicate a potential downside of 1.85% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Sanford C. Bernstein decreased their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Susquehanna reissued a “positive” rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Boeing Stock Performance

Shares of BA stock opened at $154.86 on Tuesday. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The business’s fifty day moving average is $161.63 and its 200 day moving average is $173.00. The company has a market capitalization of $95.07 billion, a PE ratio of -43.62 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (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 analysts’ expectations of $17.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. On average, sell-side analysts forecast that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the 2nd quarter worth $33,000. Hobbs Group Advisors LLC bought a new position in Boeing in the second quarter worth about $34,000. McClarren Financial Advisors Inc. lifted its holdings in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted 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 acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Boeing during the 2nd quarter worth approximately $39,000. 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.