Boeing (NYSE:BA) PT Lowered to $110.00 at Wells Fargo & Company

Boeing (NYSE:BA) had its price target cut by Wells Fargo & Company from $119.00 to $110.00 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the aircraft producer’s stock.

BA has been the subject of a number of other reports. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a buy rating on the stock in a research note on Monday, September 23rd. Baird R W raised Boeing to a strong-buy rating in a research note on Monday, June 3rd. UBS Group dropped their price target on shares of Boeing from $250.00 to $240.00 and set a buy rating on the stock in a research report on Friday, June 7th. Finally, Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an outperform rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $206.00.

Boeing Stock Up 2.9 %

Shares of NYSE BA opened at $154.88 on Tuesday. The stock has a market cap of $95.08 billion, a P/E ratio of -43.63 and a beta of 1.57. The firm’s 50-day simple moving average is $165.48 and its 200 day simple moving average is $175.19. Boeing has a fifty-two week low of $149.49 and a fifty-two week high of $267.54.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BA. MRA Advisory Group purchased a new position in Boeing in the third quarter valued at about $240,000. Apella Capital LLC lifted its holdings in shares of Boeing by 1.2% during the 3rd quarter. Apella Capital LLC now owns 7,928 shares of the aircraft producer’s stock valued at $1,212,000 after buying an additional 97 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its stake in shares of Boeing by 22.5% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 18,954 shares of the aircraft producer’s stock valued at $2,882,000 after buying an additional 3,476 shares in the last quarter. Czech National Bank increased its holdings in Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after buying an additional 9,281 shares during the last quarter. Finally, SS&H Financial Advisors Inc. raised its position in Boeing by 7.3% during the second quarter. SS&H Financial Advisors Inc. now owns 7,720 shares of the aircraft producer’s stock valued at $1,405,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.