StockNews.com Lowers Boeing (NYSE:BA) to Sell

StockNews.com lowered shares of Boeing (NYSE:BA) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other brokerages also recently weighed in on BA. Melius Research reaffirmed a hold rating on shares of Boeing in a research note on Monday, April 1st. Barclays lowered their price target on Boeing from $235.00 to $190.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. Stifel Nicolaus dropped their price target on shares of Boeing from $270.00 to $260.00 and set a buy rating on the stock in a report on Wednesday, April 10th. Royal Bank of Canada lowered their price objective on shares of Boeing from $225.00 to $215.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. Finally, Bank of America reduced their price objective on Boeing from $210.00 to $190.00 and set a neutral rating for the company in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of Moderate Buy and a consensus price target of $222.41.

Boeing Trading Up 3.8 %

Shares of NYSE BA opened at $173.53 on Friday. The firm has a fifty day simple moving average of $185.92 and a two-hundred day simple moving average of $206.50. The firm has a market capitalization of $106.53 billion, a PE ratio of -48.88 and a beta of 1.52. Boeing has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.75) EPS. On average, sell-side analysts predict that Boeing will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Hedge funds have recently made changes to their positions in the stock. CNB Bank raised its position in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the fourth quarter valued at $26,000. Evolution Advisers Inc. purchased a new position in shares of Boeing during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing during the fourth quarter worth $28,000. Finally, Vima LLC purchased a new position in Boeing in the fourth quarter valued at $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.