Boeing (NYSE:BA) Trading Down 0.5% Following Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price fell 0.5% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $174.37 and last traded at $177.57. 4,170,519 shares were traded during trading, a decline of 45% from the average session volume of 7,614,595 shares. The stock had previously closed at $178.50.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sugar Maple Asset Management LLC purchased a new position in shares of Boeing during the 4th quarter worth $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Boeing in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new stake in Boeing in the 4th quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the 3rd quarter valued at about $30,000. Finally, Heck Capital Advisors LLC purchased a new stake in Boeing during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

The company has a market capitalization of $109.77 billion, a PE ratio of -13.77 and a beta of 1.52. The stock’s 50 day simple moving average is $165.70 and its 200-day simple moving average is $164.62.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (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 quarter in the previous year, the business earned ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts predict that The Boeing Company will post -16.39 earnings per share for the current year.

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.