Boeing (NYSE:BA) Given New $86.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Boeing (NYSE:BA – Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $109.00 to $86.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 44.17% from the company’s current price.

Other equities analysts have also issued reports about the company. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Robert W. Baird reduced their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Susquehanna dropped their price objective on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.47.

Get Our Latest Stock Analysis on BA

Boeing Stock Down 1.9 %

Boeing stock traded down $3.01 during trading hours on Thursday, hitting $154.05. 1,538,174 shares of the company traded hands, compared to its average volume of 8,088,678. The firm’s 50-day simple moving average is $160.61 and its two-hundred day simple moving average is $172.01. The firm has a market cap of $94.57 billion, a P/E ratio of -43.39 and a beta of 1.57. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54.

Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.85) by ($5.59). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($3.26) EPS. On average, equities research analysts predict that Boeing will post -5.35 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. boosted its holdings in Boeing by 451.4% during 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 last quarter. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% in 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 during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing during the 2nd quarter worth approximately $39,000. 64.82% of the stock is owned by institutional investors.

About Boeing

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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.

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