Boeing (NYSE:BA) Price Target Cut to $210.00 by Analysts at JPMorgan Chase & Co.

Boeing (NYSE:BA) had its target price trimmed by JPMorgan Chase & Co. from $230.00 to $210.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the aircraft producer’s stock.

Other research analysts have also issued reports about the company. Bank of America reduced their target price on Boeing from $210.00 to $190.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. UBS Group reduced their target price on Boeing from $275.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, March 21st. Melius Research reissued a hold rating on shares of Boeing in a report on Monday, April 1st. TD Cowen cut their price objective on Boeing from $275.00 to $230.00 and set an outperform rating on the stock in a report on Monday, March 25th. Finally, Royal Bank of Canada cut their price objective on Boeing from $285.00 to $260.00 and set an outperform rating on the stock in a report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $236.53.

Boeing Price Performance

Shares of NYSE BA opened at $167.82 on Friday. The stock has a market capitalization of $102.39 billion, a P/E ratio of -45.60, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52. Boeing has a 1-year low of $167.53 and a 1-year high of $267.54. The business has a fifty day moving average price of $193.45 and a 200 day moving average price of $207.95.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the company earned ($1.75) earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Boeing will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont boosted its position in Boeing by 1.0% during the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its position in Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after purchasing an additional 47 shares in the last quarter. WealthPlan Investment Management LLC boosted its position in Boeing by 1.0% during the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after purchasing an additional 49 shares in the last quarter. Waverly Advisors LLC boosted its position in Boeing by 0.6% during the fourth quarter. Waverly Advisors LLC now owns 8,015 shares of the aircraft producer’s stock worth $1,527,000 after purchasing an additional 49 shares in the last quarter. Finally, RB Capital Management LLC lifted its position in shares of Boeing by 2.7% in the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.