Boeing (NYSE:BA) Price Target Lowered to $85.00 at Wells Fargo & Company

Boeing (NYSE:BA) had its price target reduced by equities research analysts at Wells Fargo & Company from $86.00 to $85.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 43.70% from the stock’s current price.

BA has been the subject of a number of other reports. Morgan Stanley decreased their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Down 2.6 %

BA stock opened at $150.99 on Monday. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The stock’s 50 day moving average is $156.65 and its 200-day moving average is $170.77. The firm has a market capitalization of $93.34 billion, a PE ratio of -11.70 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Boeing will post -16.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently modified their holdings of BA. Hobbs Group Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. boosted its holdings in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the period. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $39,000. 64.82% of the stock is currently owned by hedge funds and other 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.