Jefferies Financial Group Trims Boeing (NYSE:BA) Target Price to $240.00

Boeing (NYSE:BA) had its price objective cut by Jefferies Financial Group from $270.00 to $240.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the aircraft producer’s stock.

Several other equities analysts have also commented on the stock. Susquehanna reiterated a positive rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Wells Fargo & Company reaffirmed an underweight rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Robert W. Baird lowered their price objective on Boeing from $300.00 to $240.00 and set an outperform rating for the company in a research note on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $209.83.

Boeing Stock Up 1.6 %

Shares of Boeing stock opened at $154.58 on Monday. The firm has a market cap of $94.89 billion, a price-to-earnings ratio of -43.54 and a beta of 1.57. Boeing has a twelve month low of $151.65 and a twelve month high of $267.54. The business has a 50-day moving average price of $169.50 and a 200-day moving average price of $176.61.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.82) earnings per share. On average, equities analysts expect that Boeing will post -4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing in the fourth quarter valued at about $26,000. Vima LLC purchased a new position in Boeing during the 4th quarter valued at about $34,000. Accent Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter valued at about $39,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $48,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Boeing during the second quarter valued at approximately $34,000. 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.