Boeing (NYSE:BA) Stock Price Down 0.3% After Analyst Downgrade

The Boeing Company (NYSE:BA)’s stock price was down 0.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. Approximately 1,571,840 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 9,533,256 shares. The stock had previously closed at $170.48.

Several other brokerages have also recently weighed in on BA. JPMorgan Chase & Co. reduced their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Morgan Stanley dropped their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Stifel Nicolaus dropped their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Susquehanna dropped their price objective on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.71.

Hedge Funds Weigh In On Boeing

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Blueprint LLC raised its position in Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after purchasing an additional 264 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of Boeing by 86.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after buying an additional 11,510 shares during the period. Morse Asset Management Inc raised its holdings in shares of Boeing by 65.0% in the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after buying an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. raised its holdings in shares of Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after buying an additional 33,904 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after buying an additional 19,847 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.7 %

The stock has a market cap of $103.29 billion, a PE ratio of -46.18, a P/E/G ratio of 134.48 and a beta of 1.52. The company has a fifty day moving average of $189.51 and a 200-day moving average of $207.32.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the previous year, the firm earned ($1.75) earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current fiscal 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.