Citigroup Lowers Boeing (NYSE:BA) Price Target to $252.00

Boeing (NYSE:BA) had its price objective lowered by research analysts at Citigroup from $263.00 to $252.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price target would indicate a potential upside of 31.33% from the company’s current price.

BA has been the subject of several other reports. Barclays lifted their target price on Boeing from $210.00 to $235.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $235.00 price target on shares of Boeing in a report on Monday. William Blair began coverage on Boeing in a report on Tuesday, December 12th. They issued an “outperform” rating for the company. The Goldman Sachs Group decreased their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday. Finally, Royal Bank of Canada dropped their price target on Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.53.

Boeing Stock Performance

Shares of NYSE BA traded down $0.07 during trading on Thursday, hitting $191.88. 476,609 shares of the company were exchanged, compared to its average volume of 10,353,335. The company has a fifty day moving average price of $200.81 and a 200-day moving average price of $209.96. The firm has a market capitalization of $117.07 billion, a PE ratio of -52.15, a P/E/G ratio of 30.31 and a beta of 1.52. Boeing has a 12-month low of $176.25 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.75) earnings per share. Research analysts anticipate that Boeing will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds and other institutional investors have recently modified their holdings of BA. Rothschild Investment LLC IL raised its position in Boeing by 21.1% during the third quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock valued at $14,395,000 after buying an additional 13,079 shares during the period. Meridian Wealth Management LLC grew its stake in Boeing by 86.8% in the third quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after purchasing an additional 11,510 shares in the last quarter. Morse Asset Management Inc grew its stake in Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after purchasing an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. grew its stake in Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after purchasing an additional 33,904 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after purchasing an additional 19,847 shares in the last quarter. 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.