Boeing (NYSE:BA) Stock Price Down 1.6% on Analyst Downgrade

The Boeing Company (NYSE:BA) shares fell 1.6% during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $295.00 to $265.00. Jefferies Financial Group currently has a buy rating on the stock. Boeing traded as low as $197.14 and last traded at $197.9960. Approximately 7,751,920 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 6,639,687 shares. The stock had previously closed at $201.15.

A number of other analysts have also issued reports on BA. JPMorgan Chase & Co. lifted their price target on Boeing from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Citigroup lowered shares of Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Btg Pactual set a $260.00 target price on Boeing in a report on Tuesday, July 14th. Barclays lowered Boeing from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, August 11th. Finally, BNP Paribas Exane raised Boeing from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.95.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Commercial aircraft backlog strengthened: Korean Air finalized a commitment for 103 Boeing aircraft valued at approximately $36.2 billion at list prices, including 737, 787 and 777 models. The order supports Boeing’s long-term revenue visibility as Korean Air integrates Asiana Airlines. Boeing strengthens backlog with Korean Air commitment
• Positive Sentiment: Potential China order progress: U.S. officials said China is making progress toward finalizing its previously announced purchase of 200 Boeing jets. Completion would provide a meaningful boost to Boeing’s backlog, though timing remains uncertain. China making progress on Boeing purchases
• Positive Sentiment: Defense and freighter support: Kuwait’s Super Hornet support agreement, the potentially expanding KC-46 tanker opportunity and regulatory relief for 777 freighters highlight demand for Boeing’s military, service and cargo businesses. Boeing also completed SES’s 13-satellite O3b mPOWER constellation, supporting its space and defense credentials. International Super Hornet demand
• Positive Sentiment: Analyst support remains: Bank of America reiterated its Buy rating, while Jefferies maintained a Buy rating despite reducing its price target to $265. Bank of America reiterates Buy rating
• Neutral Sentiment: The upcoming Trump-Xi summit creates a binary risk for Boeing because improved U.S.-China relations could accelerate aircraft purchases, while limited progress could delay them. Analysts do not expect a major breakthrough.
• Negative Sentiment: 737 MAX production concerns are weighing on sentiment: Boeing’s CEO warned that the production ramp remains sluggish, raising questions about delivery timing, cash flow and execution. Boeing CEO warns of 737 MAX production delays
• Negative Sentiment: A report that Iran may reopen the Strait of Hormuz reduced geopolitical and defense-stock enthusiasm, contributing to weakness across aerospace and defense shares, including BA. Defense stocks fall on Strait of Hormuz report

Hedge Funds Weigh In On Boeing

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Boeing by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 17,025,435 shares of the aircraft producer’s stock valued at $3,679,592,000 after purchasing an additional 533,753 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Boeing by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,640,900 shares of the aircraft producer’s stock valued at $1,224,752,000 after purchasing an additional 135,860 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Boeing during the second quarter worth approximately $911,878,000. Janus Henderson Group PLC lifted its holdings in shares of Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after purchasing an additional 1,176,074 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Boeing by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,613,462 shares of the aircraft producer’s stock valued at $784,555,000 after buying an additional 89,106 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 1.6%

The company has a market capitalization of $156.49 billion, a price-to-earnings ratio of 85.71 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The firm’s 50 day simple moving average is $215.82 and its 200-day simple moving average is $218.03.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The firm had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.Boeing’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.24) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -0.91 EPS for the current fiscal year.

About Boeing

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.