Boeing (NYSE:BA) Stock Price Down 0.3% on Analyst Downgrade

The Boeing Company (NYSE:BA - Get Free Report) dropped 0.3% during trading on Tuesday after Barclays lowered their price target on the stock from $235.00 to $190.00. Barclays currently has an equal weight rating on the stock. Boeing traded as low as $169.26 and last traded at $169.95. Approximately 1,571,840 shares changed hands during trading, a decline of 84% from the average daily volume of 9,533,256 shares. The stock had previously closed at $170.48.

A number of other analysts have also issued reports on the stock. Edward Jones lowered shares of Boeing from a "buy" rating to a "hold" rating in a research note on Monday, January 8th. Benchmark reissued a "buy" rating and set a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Bank of America lowered their target price on shares of Boeing from $210.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, April 11th. UBS Group lowered their price objective on shares of Boeing from $275.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, March 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Boeing from $225.00 to $215.00 and set an "equal weight" rating for the company in a research note on Thursday, February 1st. One 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $226.71.

Hedge Funds Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in BA. CNB Bank increased 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 valued at $25,000 after acquiring an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $26,000. Evolution Advisers Inc. acquired a new position in shares of Boeing during the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Boeing during the fourth quarter valued at about $28,000. Finally, Vima LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $34,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

The stock has a market cap of $103.22 billion, a price-to-earnings ratio of -45.97, a P/E/G ratio of 134.48 and a beta of 1.52. The company's fifty day moving average price is $188.81 and its 200-day moving average price is $207.19.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) 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 analyst estimates of $21.14 billion. The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.75) EPS. On average, sell-side analysts forecast that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

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.