JPMorgan Chase & Co. Issues Pessimistic Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its price objective lowered by JPMorgan Chase & Co. from $195.00 to $190.00 in a research report report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aircraft producer’s stock.

Several other equities analysts have also issued reports on BA. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

Shares of NYSE BA opened at $153.08 on Monday. The business has a fifty day moving average price of $151.65 and a 200 day moving average price of $168.08. Boeing has a 1-year low of $137.03 and a 1-year high of $267.54. The stock has a market capitalization of $94.63 billion, a P/E ratio of -11.87 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the firm posted ($3.26) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that Boeing will post -16.2 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in Boeing by 2.1% in the third quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock valued at $5,812,000 after acquiring an additional 804 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Boeing by 290.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after purchasing an additional 12,680 shares during the period. World Investment Advisors LLC boosted its holdings in Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after buying an additional 3,814 shares in the last quarter. Virtu Financial LLC acquired a new stake in Boeing during the third quarter valued at $7,544,000. Finally, Rehmann Capital Advisory Group increased its holdings in Boeing by 1.7% in the third quarter. Rehmann Capital Advisory Group now owns 9,533 shares of the aircraft producer’s stock valued at $1,449,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.