Citigroup Cuts Boeing (NYSE:BA) Price Target to $207.00

Boeing (NYSE:BA) had its target price reduced by equities research analysts at Citigroup from $209.00 to $207.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s price target indicates a potential upside of 16.07% from the stock’s current price.

BA has been the subject of several other research reports. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.11.

Boeing Stock Performance

Shares of Boeing stock opened at $178.34 on Friday. Boeing has a 1 year low of $137.03 and a 1 year high of $217.59. The firm’s 50-day simple moving average is $164.90 and its 200-day simple moving average is $164.53. The firm has a market cap of $110.25 billion, a PE ratio of -13.82 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, equities analysts predict that Boeing will post -16.39 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently bought and sold shares of BA. Sugar Maple Asset Management LLC purchased a new stake in Boeing in the 4th quarter worth approximately $27,000. Fiduciary Advisors Inc. acquired a new position in shares of Boeing in the fourth quarter worth $28,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the third quarter valued at $28,000. Heck Capital Advisors LLC acquired a new stake in Boeing during the fourth quarter valued at $33,000. Finally, Cedar Wealth Management LLC purchased a new position in Boeing in the third quarter valued at about $30,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.