Boeing (NYSE:BA) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company reiterated their underweight rating on shares of Boeing (NYSE:BA - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have a $119.00 target price on the aircraft producer's stock, down from their prior target price of $185.00.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Robert W. Baird decreased their target price 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. Baird R W upgraded shares of Boeing to a strong-buy rating in a research note on Monday, June 3rd. Susquehanna reaffirmed a positive rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $211.29.

Boeing Price Performance

Shares of NYSE:BA traded down $12.72 during trading on Tuesday, reaching $161.02. 17,627,130 shares of the company were exchanged, compared to its average volume of 7,910,996. The firm has a market capitalization of $98.85 billion, a PE ratio of -45.36 and a beta of 1.56. The business's fifty day simple moving average is $177.74 and its 200-day simple moving average is $181.39. Boeing has a 12-month low of $158.30 and a 12-month high of $267.54.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The company's quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) earnings per share. On average, sell-side analysts anticipate that Boeing will post -4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BA. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the fourth quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the 2nd quarter worth $33,000. Vima LLC acquired a new stake in shares of Boeing during the 4th quarter worth about $34,000. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. lifted its position in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer's stock valued at $37,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

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.