Boeing (NYSE:BA) Stock Rating Lowered by ValuEngine

Boeing (NYSE:BA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday, ValuEngine reports.

Several other equities analysts have also recently weighed in on the company. Berenberg Bank set a $440.00 price target on Boeing and gave the company a “buy” rating in a report on Friday. Morgan Stanley set a $500.00 price target on Boeing and gave the company a “buy” rating in a report on Thursday, September 12th. Wolfe Research cut Boeing from an “outperform” rating to a “peer perform” rating and cut their price target for the company from $404.00 to $393.00 in a report on Thursday, July 25th. Canaccord Genuity set a $380.00 price target on Boeing and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Cowen restated a “buy” rating and set a $460.00 price target on shares of Boeing in a report on Friday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $403.10.

NYSE BA traded up $3.92 during trading on Friday, hitting $374.92. 3,867,673 shares of the stock traded hands, compared to its average volume of 5,359,149. The company has a market capitalization of $210.51 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 12.21 and a beta of 1.25. The firm has a 50-day simple moving average of $371.33 and a 200-day simple moving average of $362.55. 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 has a 12-month low of $292.47 and a 12-month high of $446.01.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 35.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 EPS. As a group, research analysts predict that Boeing will post 3.71 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Claraphi Advisory Network LLC boosted its holdings in Boeing by 3.6% during the 2nd quarter. Claraphi Advisory Network LLC now owns 2,943 shares of the aircraft producer’s stock valued at $1,071,000 after acquiring an additional 103 shares during the period. Dupont Capital Management Corp boosted its holdings in Boeing by 0.3% during the 2nd quarter. Dupont Capital Management Corp now owns 45,420 shares of the aircraft producer’s stock valued at $16,533,000 after acquiring an additional 125 shares during the period. Corrado Advisors LLC boosted its holdings in Boeing by 4.1% during the 2nd quarter. Corrado Advisors LLC now owns 7,901 shares of the aircraft producer’s stock valued at $2,876,000 after acquiring an additional 310 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Boeing by 1,405.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 30,830 shares of the aircraft producer’s stock valued at $11,222,000 after acquiring an additional 28,782 shares during the period. Finally, Greenleaf Trust boosted its holdings in Boeing by 6.3% during the 2nd quarter. Greenleaf Trust now owns 5,782 shares of the aircraft producer’s stock valued at $2,105,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 67.85% of the company’s stock.

About Boeing

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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Analyst Recommendations for Boeing (NYSE:BA)

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