Boeing (NYSE:BA) Trading Down 0.5% After Analyst Downgrade

The Boeing Company (NYSE:BA) shares traded down 0.5% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $174.37 and last traded at $177.57. 4,170,519 shares were traded during mid-day trading, a decline of 45% from the average session volume of 7,614,595 shares. The stock had previously closed at $178.50.

A number of other equities analysts have also weighed in on the stock. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $192.11.

Institutional Trading of Boeing

A number of institutional investors have recently modified their holdings of BA. Sugar Maple Asset Management LLC acquired a new position in Boeing during the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in Boeing during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in Boeing during the 4th quarter worth approximately $28,000. Cedar Wealth Management LLC acquired a new position in Boeing during the 3rd quarter worth approximately $30,000. Finally, Heck Capital Advisors LLC acquired a new position in Boeing during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.5 %

The stock has a 50-day simple moving average of $165.70 and a 200-day simple moving average of $164.62. The company has a market capitalization of $109.77 billion, a price-to-earnings ratio of -13.77 and a beta of 1.52.

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 analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts forecast that The Boeing Company will post -16.39 EPS 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.