Barclays Cuts Boeing (NYSE:BA) Price Target to $190.00

Boeing (NYSE:BA) had its target price cut by Barclays from $235.00 to $190.00 in a research report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the aircraft producer’s stock.

Other analysts have also recently issued research reports about the stock. Melius Research reiterated a hold rating on shares of Boeing in a research note on Monday, April 1st. Benchmark reiterated a buy rating and issued a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. Royal Bank of Canada decreased their target price on shares of Boeing from $225.00 to $215.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. Edward Jones cut shares of Boeing from a buy rating to a hold rating in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Boeing from $230.00 to $210.00 and set an overweight rating on the stock in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $226.71.

Boeing Stock Performance

BA opened at $164.34 on Monday. Boeing has a fifty-two week low of $162.74 and a fifty-two week high of $267.54. The firm’s fifty day moving average is $188.03 and its 200 day moving average is $206.89. The stock has a market cap of $100.27 billion, a price-to-earnings ratio of -44.66, a price-to-earnings-growth ratio of 135.00 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the firm posted ($1.75) EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Boeing will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of large investors have recently bought and sold shares of BA. Strategic Blueprint LLC grew its stake in shares of Boeing by 8.7% during the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after purchasing an additional 264 shares during the period. Meridian Wealth Management LLC grew its stake in Boeing by 86.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after acquiring an additional 11,510 shares during the last quarter. Morse Asset Management Inc grew its stake in Boeing by 65.0% in the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after acquiring an additional 3,152 shares during the last quarter. Peregrine Asset Advisers Inc. grew its stake in Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after acquiring an additional 33,904 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after acquiring an additional 19,847 shares during the last quarter. Hedge funds and other institutional investors 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.