Boeing (NYSE:BA) Reaches New 52-Week Low on Analyst Downgrade

Shares of The Boeing Company (NYSE:BA - Get Free Report) reached a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $252.00 to $224.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $160.61 and last traded at $161.66, with a volume of 3521363 shares. The stock had previously closed at $164.33.

BA has been the topic of several other research reports. TD Cowen lowered their target price on shares of Boeing from $275.00 to $230.00 and set an "outperform" rating on the stock in a research note on Monday, March 25th. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus lowered their target price on shares of Boeing from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, April 10th. The Goldman Sachs Group lowered their target price on shares of Boeing from $268.00 to $257.00 and set a "buy" rating on the stock in a research note on Monday, March 25th. Finally, Melius Research reissued a "hold" rating on shares of Boeing in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $222.41.

Institutional Inflows and Outflows

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

Boeing Price Performance

The firm has a market capitalization of $101.78 billion, a price-to-earnings ratio of -45.33, a PEG ratio of 133.97 and a beta of 1.52. The firm's fifty day moving average is $187.26 and its 200 day moving average is $206.61.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results 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. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.75) earnings per share. Equities research analysts forecast that The Boeing Company will post 0.32 EPS for the current fiscal year.

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.