Boeing (NYSE:BA) Price Target Cut to $224.00

Boeing (NYSE:BA) had its price objective trimmed by Citigroup from $252.00 to $224.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the aircraft producer’s stock.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company dropped their price target on Boeing from $225.00 to $215.00 and set an equal weight rating on the stock in a research report on Thursday, February 1st. Barclays lowered their target price on shares of Boeing from $235.00 to $190.00 and set an equal weight rating on the stock in a report on Monday. Edward Jones lowered Boeing from a buy rating to a hold rating in a report on Monday, January 8th. Northcoast Research lowered Boeing from a neutral rating to a sell rating and set a $140.00 price objective on the stock. in a research note on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boeing from $240.00 to $225.00 and set a buy rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of Moderate Buy and a consensus price target of $222.41.

Boeing Price Performance

Shares of NYSE BA traded down $0.83 during midday trading on Thursday, reaching $165.98. The company’s stock had a trading volume of 588,353 shares, compared to its average volume of 9,674,176. The firm has a 50 day moving average price of $187.26 and a 200-day moving average price of $206.61. Boeing has a 12-month low of $159.70 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. Boeing’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.75) EPS. On average, equities analysts anticipate that Boeing will post 0.32 EPS for the current year.

Institutional Trading of Boeing

Several large investors have recently made changes to their positions in BA. CNB Bank grew its holdings in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the fourth quarter valued at about $26,000. Evolution Advisers Inc. bought a new position in Boeing during the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing in the fourth quarter worth about $28,000. Finally, Vima LLC bought a new position in Boeing during the fourth quarter worth $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.