Boeing (NYSE:BA) PT Lowered to $202.00 at The Goldman Sachs Group

Boeing (NYSE:BA) had its price objective reduced by The Goldman Sachs Group from $232.00 to $202.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

BA has been the subject of several other research reports. Sanford C. Bernstein decreased their price objective on shares of Boeing from $222.00 to $207.00 and set an outperform rating for the company in a research note on Monday, August 5th. UBS Group dropped their price target on Boeing from $250.00 to $240.00 and set a buy rating on the stock in a research note on Friday, June 7th. Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a buy rating for the company in a research note on Monday. Baird R W upgraded shares of Boeing to a strong-buy rating in a research report on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has an average rating of Moderate Buy and an average price target of $209.83.

Boeing Price Performance

Boeing stock opened at $154.58 on Tuesday. The stock’s fifty day moving average is $169.50 and its two-hundred day moving average is $176.61. The stock has a market cap of $94.89 billion, a PE ratio of -43.54 and a beta of 1.57. Boeing has a 1-year low of $151.65 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the business earned ($0.82) earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts expect that Boeing will post -4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing during the fourth quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter worth $33,000. Vima LLC purchased a new stake in shares of Boeing in the 4th quarter worth about $34,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the 2nd quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. raised its position 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 acquiring an additional 158 shares during the last quarter. 64.82% of the stock is 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.