Boeing (NYSE:BA) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $323.00 price objective on the aircraft producer’s stock, down from their prior price objective of $416.00. Credit Suisse Group’s price target points to a potential downside of 4.15% from the stock’s current price.
BA has been the topic of several other research reports. Barclays set a $367.00 price target on Boeing and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Buckingham Research set a $395.00 price target on Boeing and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $445.00 price target (down previously from $470.00) on shares of Boeing in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Bank of America cut their price target on Boeing from $415.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group lowered Boeing from a “buy” rating to a “neutral” rating and cut their price target for the stock from $470.00 to $375.00 in a research report on Monday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $388.79.
BA opened at $337.00 on Monday. The firm has a market cap of $193.57 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 12.08 and a beta of 1.25. Boeing has a 52 week low of $292.47 and a 52 week high of $446.01. The business’s 50 day moving average is $371.21 and its two-hundred day moving average is $361.49. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, topping the consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The firm’s revenue was down 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.33 earnings per share. Equities analysts expect that Boeing will post 3.26 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of BA. Thoroughbred Financial Services LLC boosted its stake in shares of Boeing by 36,928.2% in the second quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer’s stock valued at $623,555,000 after buying an additional 6,218,711 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Boeing by 1,774.6% in the second quarter. Nuveen Asset Management LLC now owns 4,149,922 shares of the aircraft producer’s stock valued at $1,510,613,000 after buying an additional 3,928,546 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Boeing in the second quarter valued at approximately $1,010,899,000. Price T Rowe Associates Inc. MD boosted its position in Boeing by 7.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock worth $13,009,918,000 after purchasing an additional 2,607,364 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in Boeing during the second quarter worth $303,860,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.
Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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