Wells Fargo & Company Issues Pessimistic Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its price target decreased by stock analysts at Wells Fargo & Company from $113.00 to $111.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 29.18% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on BA. StockNews.com upgraded shares of Boeing to a “sell” rating in a report on Saturday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $196.00.

Boeing Stock Performance

Shares of BA stock opened at $156.73 on Tuesday. The stock’s 50 day simple moving average is $167.15 and its 200 day simple moving average is $163.91. Boeing has a twelve month low of $128.88 and a twelve month high of $196.95. The company has a market capitalization of $117.56 billion, a price-to-earnings ratio of -8.56 and a beta of 1.24.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the company earned ($0.47) EPS. On average, analysts forecast that Boeing will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in Boeing in the fourth quarter worth $26,000. American National Bank & Trust lifted its position in Boeing by 474.1% during the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock worth $26,000 after buying an additional 128 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in Boeing during the 4th quarter worth about $27,000. Fiduciary Advisors Inc. acquired a new stake in Boeing in the 4th quarter valued at about $28,000. Finally, HighMark Wealth Management LLC raised its stake in shares of Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.