Boeing (NYSE:BA) Price Target Cut to $86.00 by Analysts at Wells Fargo & Company

Boeing (NYSE:BA) had its price target decreased by Wells Fargo & Company from $109.00 to $86.00 in a report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the aircraft producer’s stock.

Several other research firms have also recently commented on BA. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

Boeing Trading Up 1.1 %

NYSE:BA traded up $1.73 on Thursday, reaching $156.93. 1,815,046 shares of the stock traded hands, compared to its average volume of 8,096,203. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54. The company’s 50 day moving average is $160.61 and its 200-day moving average is $172.01. The firm has a market capitalization of $96.34 billion, a price-to-earnings ratio of -43.72 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) earnings per share. On average, equities research analysts forecast that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. boosted its position in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Van ECK Associates Corp grew its stake in Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares during the period. Wulff Hansen & CO. grew its stake in Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares during the last quarter. 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.