Boeing (NYSE:BA) Price Target Cut to $210.00 by Analysts at JPMorgan Chase & Co.

Boeing (NYSE:BA) had its price target trimmed by JPMorgan Chase & Co. from $230.00 to $210.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the aircraft producer’s stock.

A number of other analysts have also commented on BA. Morgan Stanley reduced their price objective on shares of Boeing from $235.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday, April 10th. Northcoast Research downgraded Boeing from a buy rating to a neutral rating in a report on Friday, February 23rd. Susquehanna dropped their target price on Boeing from $265.00 to $230.00 and set a positive rating on the stock in a report on Thursday, March 21st. Edward Jones downgraded Boeing from a buy rating to a hold rating in a report on Monday, January 8th. Finally, Citigroup dropped their target price on Boeing from $263.00 to $252.00 and set a buy rating on the stock in a report on Thursday, March 28th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $236.53.

Boeing Trading Down 1.0 %

BA stock opened at $167.82 on Friday. Boeing has a one year low of $167.53 and a one year high of $267.54. The firm has a market capitalization of $102.39 billion, a PE ratio of -45.60, a P/E/G ratio of 115.71 and a beta of 1.52. The firm has a 50-day moving average of $193.45 and a two-hundred day moving average of $207.95.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the company posted ($1.75) earnings per share. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Boeing will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing during the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing during the fourth quarter valued at approximately $28,000. Evolution Advisers Inc. acquired a new position in Boeing during the fourth quarter valued at approximately $28,000. CNB Bank boosted its position in shares of Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. Finally, Vima LLC bought a new stake in shares of Boeing in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds 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.