Boeing (NYSE:BA) Reaches New 52-Week Low at $159.36

The Boeing Company (NYSE:BA - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $159.36 and last traded at $160.54, with a volume of 6169076 shares trading hands. The stock had previously closed at $173.74.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BA. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, June 3rd. Susquehanna reaffirmed a "positive" rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Bank of America lifted their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, June 13th. Sanford C. Bernstein cut their price objective on shares of Boeing from $222.00 to $207.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.29.

Boeing Stock Down 7.3 %

The stock has a market cap of $98.85 billion, a PE ratio of -45.94 and a beta of 1.56. The firm has a 50-day simple moving average of $178.02 and a 200-day simple moving average of $181.69.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the business earned ($0.82) earnings per share. The business's quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -4.26 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors raised its stake in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer's stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP raised its position in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer's stock valued at $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer's stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Boston Partners raised its position in Boeing by 861.6% during the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer's stock valued at $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Boeing during the first quarter valued at about $272,312,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.