Boeing (NYSE:BA) Hits New 52-Week Low on Analyst Downgrade

The Boeing Company (NYSE:BA) shares hit a new 52-week low on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $240.00 to $225.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as low as $160.61 and last traded at $161.66, with a volume of 3521363 shares trading hands. The stock had previously closed at $164.33.

Several other research firms have also weighed in on BA. JPMorgan Chase & Co. reduced their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Edward Jones lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus dropped their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Barclays dropped their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada dropped their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $224.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock worth $12,642,519,000 after acquiring an additional 892,446 shares during the period. Capital Research Global Investors lifted its stake in shares of Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Morgan Stanley lifted its stake in shares of Boeing by 1.1% in the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after acquiring an additional 91,801 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Boeing by 1.1% in the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after acquiring an additional 52,081 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

The business’s 50 day moving average price is $188.03 and its two-hundred day moving average price is $206.89. The company has a market capitalization of $101.78 billion, a price-to-earnings ratio of -44.56, a price-to-earnings-growth ratio of 133.97 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the previous year, the firm earned ($1.75) earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post 0.32 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.