The Goldman Sachs Group Trims Boeing (NYSE:BA) Target Price to $257.00

Boeing (NYSE:BA) had its target price decreased by The Goldman Sachs Group from $268.00 to $257.00 in a report issued on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the aircraft producer’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their target price on Boeing from $210.00 to $235.00 and gave the stock an equal weight rating in a research note on Wednesday, December 6th. Susquehanna lowered their price objective on Boeing from $265.00 to $230.00 and set a positive rating on the stock in a research note on Thursday, March 21st. Stifel Nicolaus initiated coverage on Boeing in a research note on Friday, December 1st. They issued a buy rating and a $265.00 price objective on the stock. Northcoast Research cut Boeing from a buy rating to a neutral rating in a research note on Friday, February 23rd. Finally, TD Cowen lowered their price objective on Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has an average rating of Moderate Buy and a consensus price target of $241.53.

Boeing Stock Performance

Boeing stock opened at $192.83 on Monday. The firm has a market cap of $117.65 billion, a price-to-earnings ratio of -52.40, a PEG ratio of 30.31 and a beta of 1.52. Boeing has a 52-week low of $176.25 and a 52-week high of $267.54. The firm has a 50 day moving average price of $200.59 and a two-hundred day moving average price of $209.84.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the business earned ($1.75) EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Boeing will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently modified their holdings of the business. Bollard Group LLC raised its holdings in shares of Boeing by 10.6% during the second quarter. Bollard Group LLC now owns 469 shares of the aircraft producer’s stock valued at $99,000 after buying an additional 45 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Boeing by 1.0% during the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Benchmark Financial Wealth Advisors LLC increased its stake in shares of Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after acquiring an additional 47 shares during the period. Waverly Advisors LLC increased its stake in shares of Boeing by 0.6% during the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock valued at $1,527,000 after acquiring an additional 49 shares during the period. Finally, WealthPlan Investment Management LLC increased its stake in shares of Boeing by 1.0% during the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after acquiring an additional 49 shares during the period. 64.82% of the stock is owned by hedge funds and other 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.