Northcoast Research Lowers Boeing (NYSE:BA) to Sell

Boeing (NYSE:BA) was downgraded by equities researchers at Northcoast Research from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $140.00 target price on the aircraft producer’s stock. Northcoast Research’s target price would indicate a potential downside of 17.57% from the stock’s previous close.

Several other brokerages also recently commented on BA. Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Melius Research reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Royal Bank of Canada reduced their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, TD Cowen reduced 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $229.35.

Boeing Stock Performance

Shares of BA stock traded down $0.70 during trading hours on Wednesday, hitting $169.85. The company had a trading volume of 6,426,703 shares, compared to its average volume of 9,806,820. Boeing has a 12 month low of $167.53 and a 12 month high of $267.54. The firm has a market capitalization of $103.63 billion, a price-to-earnings ratio of -46.08, a PEG ratio of 114.53 and a beta of 1.52. The firm’s fifty day moving average is $192.69 and its 200 day moving average is $207.80.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.75) earnings per share. On average, sell-side analysts expect that Boeing will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of BA. CNB Bank boosted its holdings in shares of 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 during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter worth approximately $26,000. Evolution Advisers Inc. bought a new stake in shares of Boeing during the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the fourth quarter worth approximately $28,000. Finally, True Wealth Design LLC bought a new stake in shares of Boeing during the fourth quarter worth approximately $33,000. 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.