Sanford C. Bernstein Downgrades Boeing (NYSE:BA) to Market Perform

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Sanford C. Bernstein downgraded shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have $165.00 target price on the aircraft producer’s stock.

BA has been the topic of a number of other reports. JPMorgan Chase & Co. restated a neutral rating and set a $158.00 price objective (up from $130.00) on shares of Boeing in a report on Friday, May 1st. ValuEngine downgraded Boeing from a strong-buy rating to a buy rating in a research note on Friday, May 1st. Robert W. Baird reduced their price objective on Boeing from $322.00 to $183.00 and set a neutral rating for the company in a research report on Wednesday, March 18th. Cfra upgraded Boeing to a buy rating in a report on Wednesday, May 27th. Finally, Benchmark restated a market perform rating and issued a $180.00 target price on shares of Boeing in a research note on Monday, May 11th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $228.46.

NYSE:BA opened at $194.49 on Friday. The business’s 50-day simple moving average is $164.04 and its 200-day simple moving average is $228.90. Boeing has a fifty-two week low of $89.00 and a fifty-two week high of $391.00. The stock has a market capitalization of $109.76 billion, a PE ratio of -32.09 and a beta of 1.44.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.34. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The business had revenue of $16.91 billion during the quarter, compared to analysts’ expectations of $16.90 billion. During the same period in the prior year, the business earned $3.16 EPS. Boeing’s revenue for the quarter was down 26.2% compared to the same quarter last year. Equities analysts anticipate that Boeing will post -5.65 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in BA. Altavista Wealth Management Inc. increased its position in shares of Boeing by 5.2% during the fourth quarter. Altavista Wealth Management Inc. now owns 632 shares of the aircraft producer’s stock valued at $206,000 after buying an additional 31 shares during the period. Change Path LLC increased its holdings in Boeing by 2.0% during the 4th quarter. Change Path LLC now owns 2,171 shares of the aircraft producer’s stock worth $708,000 after acquiring an additional 42 shares during the period. Probity Advisors Inc. lifted its stake in Boeing by 5.2% in the 4th quarter. Probity Advisors Inc. now owns 912 shares of the aircraft producer’s stock worth $297,000 after purchasing an additional 45 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in Boeing by 5.9% in the 4th quarter. Morningstar Investment Services LLC now owns 919 shares of the aircraft producer’s stock worth $299,000 after purchasing an additional 51 shares in the last quarter. Finally, Claraphi Advisory Network LLC boosted its holdings in Boeing by 1.8% in the 4th quarter. Claraphi Advisory Network LLC now owns 3,052 shares of the aircraft producer’s stock valued at $994,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 61.88% of the company’s stock.

Boeing Company Profile

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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