Boeing (NYSE:BA) Downgraded by Sanford C. Bernstein to “Market Perform”

Sanford C. Bernstein downgraded shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a research report released on Wednesday morning, Marketbeat reports. Sanford C. Bernstein currently has $169.00 price objective on the aircraft producer’s stock, down from their prior price objective of $195.00.

Several other equities analysts have also recently weighed in on BA. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. 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, September 23rd. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Hold” and an average price target of $190.42.

Boeing Stock Up 0.8 %

Shares of Boeing stock opened at $154.24 on Wednesday. Boeing has a 12-month low of $146.02 and a 12-month high of $267.54. The firm has a market capitalization of $94.69 billion, a PE ratio of -43.45 and a beta of 1.57. The stock’s fifty day moving average is $158.34 and its 200-day moving average is $171.24.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the company earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Boeing will post -5.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Canal Insurance CO bought a new stake in shares of Boeing during the 3rd quarter worth $1,520,000. Catalina Capital Group LLC lifted its position in Boeing by 17.1% during the 3rd quarter. Catalina Capital Group LLC now owns 1,446 shares of the aircraft producer’s stock worth $220,000 after acquiring an additional 211 shares during the last quarter. Focused Wealth Management Inc bought a new stake in Boeing during the third quarter valued at about $461,000. Heritage Investors Management Corp grew its position in shares of Boeing by 3.7% in the third quarter. Heritage Investors Management Corp now owns 114,138 shares of the aircraft producer’s stock valued at $17,354,000 after purchasing an additional 4,072 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of Boeing by 15.3% in the third quarter. Sentry Investment Management LLC now owns 2,776 shares of the aircraft producer’s stock worth $422,000 after purchasing an additional 369 shares during the period. 64.82% of the stock is owned by institutional investors.

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.