Citigroup Cuts Boeing (NYSE:BA) Price Target to $224.00

Boeing (NYSE:BA) had its target price lowered by Citigroup from $252.00 to $224.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

BA has been the topic of several other research reports. Melius restated a hold rating on shares of Boeing in a research note on Monday, April 1st. Susquehanna cut their price objective on Boeing from $265.00 to $230.00 and set a positive rating on the stock in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $240.00 to $225.00 and set a buy rating on the stock in a research note on Thursday. Edward Jones cut Boeing from a buy rating to a hold rating in a research note on Monday, January 8th. Finally, Stifel Nicolaus dropped their price target on Boeing from $270.00 to $260.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Boeing currently has an average rating of Moderate Buy and an average price target of $222.41.

Boeing Stock Performance

Shares of BA opened at $167.22 on Thursday. The company has a market capitalization of $102.65 billion, a P/E ratio of -47.10, a P/E/G ratio of 140.43 and a beta of 1.52. Boeing has a one year low of $159.70 and a one year high of $267.54. The stock has a 50-day moving average price of $186.53 and a 200 day moving average price of $206.63.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the company posted ($1.75) EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Boeing will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in Boeing by 1.0% during the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after purchasing an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its stake in Boeing by 2.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after purchasing an additional 47 shares in the last quarter. WealthPlan Investment Management LLC boosted its stake in Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after purchasing an additional 49 shares in the last quarter. RB Capital Management LLC boosted its stake in Boeing by 2.7% during the 3rd quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after purchasing an additional 50 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its stake in Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 50 shares in the last quarter. 64.82% of the stock is owned by 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.