Boeing (NYSE:BA) Shares Down 1.6% Following Analyst Downgrade

The Boeing Company (NYSE:BA)’s share price was down 1.6% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $295.00 to $265.00. Jefferies Financial Group currently has a buy rating on the stock. Boeing traded as low as $197.14 and last traded at $197.9960. Approximately 7,751,920 shares traded hands during trading, an increase of 17% from the average daily volume of 6,639,687 shares. The stock had previously closed at $201.15.

A number of other equities analysts also recently commented on the stock. Citigroup downgraded shares of Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised their price objective on Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group initiated coverage on shares of Boeing in a research report on Tuesday, August 11th. They issued a “buy” rating for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Boeing in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $270.95.

Key Headlines Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Commercial aircraft backlog strengthened: Korean Air finalized a commitment for 103 Boeing aircraft valued at approximately $36.2 billion at list prices, including 737, 787 and 777 models. The order supports Boeing’s long-term revenue visibility as Korean Air integrates Asiana Airlines. Boeing strengthens backlog with Korean Air commitment
• Positive Sentiment: Potential China order progress: U.S. officials said China is making progress toward finalizing its previously announced purchase of 200 Boeing jets. Completion would provide a meaningful boost to Boeing’s backlog, though timing remains uncertain. China making progress on Boeing purchases
• Positive Sentiment: Defense and freighter support: Kuwait’s Super Hornet support agreement, the potentially expanding KC-46 tanker opportunity and regulatory relief for 777 freighters highlight demand for Boeing’s military, service and cargo businesses. Boeing also completed SES’s 13-satellite O3b mPOWER constellation, supporting its space and defense credentials. International Super Hornet demand
• Positive Sentiment: Analyst support remains: Bank of America reiterated its Buy rating, while Jefferies maintained a Buy rating despite reducing its price target to $265. Bank of America reiterates Buy rating
• Neutral Sentiment: The upcoming Trump-Xi summit creates a binary risk for Boeing because improved U.S.-China relations could accelerate aircraft purchases, while limited progress could delay them. Analysts do not expect a major breakthrough.
• Negative Sentiment: 737 MAX production concerns are weighing on sentiment: Boeing’s CEO warned that the production ramp remains sluggish, raising questions about delivery timing, cash flow and execution. Boeing CEO warns of 737 MAX production delays
• Negative Sentiment: A report that Iran may reopen the Strait of Hormuz reduced geopolitical and defense-stock enthusiasm, contributing to weakness across aerospace and defense shares, including BA. Defense stocks fall on Strait of Hormuz report

Institutional Investors Weigh In On Boeing

Large investors have recently modified their holdings of the stock. Premier Financial Group acquired a new stake in Boeing in the second quarter valued at $128,000. Security National Bank of SO Dak purchased a new stake in shares of Boeing in the second quarter valued at $30,000. Anchor Investment Management LLC increased its stake in Boeing by 1.7% in the second quarter. Anchor Investment Management LLC now owns 10,252 shares of the aircraft producer’s stock valued at $2,219,000 after purchasing an additional 171 shares during the last quarter. Bullseye Investment Management LLC acquired a new position in Boeing in the second quarter valued at $47,000. Finally, Tortoise Investment Management LLC purchased a new position in Boeing during the second quarter worth about $210,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.6%

The business has a 50 day simple moving average of $215.82 and a 200-day simple moving average of $218.03. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The stock has a market capitalization of $156.49 billion, a price-to-earnings ratio of 85.71 and a beta of 1.21.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter last year, the company posted ($1.24) EPS. Boeing’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -0.91 earnings per share for the current year.

About Boeing

The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.

Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.