Boeing (NYSE:BA) Lowered to Sell at Northcoast Research

Boeing (NYSE:BA) was downgraded by equities researchers at Northcoast Research from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $140.00 price target on the aircraft producer’s stock. Northcoast Research’s price target points to a potential downside of 17.76% from the company’s previous close.

A number of other brokerages have also recently commented on BA. Susquehanna decreased their price objective on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. UBS Group decreased their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Melius reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. Finally, Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.35.

Boeing Stock Performance

NYSE BA opened at $170.24 on Wednesday. The stock has a fifty day moving average of $191.08 and a 200-day moving average of $207.28. The stock has a market capitalization of $103.87 billion, a P/E ratio of -46.26, a price-to-earnings-growth ratio of 116.39 and a beta of 1.52. Boeing has a 52 week low of $167.53 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted ($1.75) earnings per share. Equities research analysts forecast that Boeing will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Boeing

A number of institutional investors have recently modified their holdings of the company. CNB Bank raised its holdings in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing during the fourth quarter worth about $26,000. Evolution Advisers Inc. bought a new stake in Boeing during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing during the fourth quarter worth about $28,000. Finally, True Wealth Design LLC bought a new stake in Boeing during the fourth quarter worth about $33,000. 64.82% of the stock is currently owned by institutional investors.

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.