Citigroup Lowers Boeing (NYSE:BA) Price Target to $252.00

Boeing (NYSE:BA) had its price target reduced by equities researchers at Citigroup from $263.00 to $252.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the aircraft producer’s stock. Citigroup’s target price suggests a potential upside of 31.33% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group dropped their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Stifel Nicolaus restated a “buy” rating and issued a $270.00 price objective on shares of Boeing in a research note on Monday. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Susquehanna lowered their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.53.

Boeing Stock Performance

NYSE:BA traded down $0.07 on Thursday, reaching $191.88. The company’s stock had a trading volume of 476,609 shares, compared to its average volume of 10,353,335. The firm has a market cap of $117.07 billion, a PE ratio of -52.15, a PEG ratio of 30.31 and a beta of 1.52. The business’s 50-day moving average price is $200.81 and its two-hundred day moving average price is $209.96. Boeing has a 1-year low of $176.25 and a 1-year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned ($1.75) earnings per share. As a group, sell-side analysts expect that Boeing will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Moneta Group Investment Advisors LLC increased its stake in Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after acquiring an additional 16,041,103 shares during the last quarter. Capital Research Global Investors increased its stake in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Jennison Associates LLC bought a new position in Boeing in the fourth quarter valued at $960,397,000. Wellington Management Group LLP grew its stake in shares of Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during 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.