Zacks Investment Research upgraded shares of United Continental Holdings Inc. (NYSE:UAL) from a hold rating to a buy rating in a research report released on Monday. The firm currently has $83.00 price target on the stock.
According to Zacks, “Shares of United Continental have outperformed the broader market in the last three months. The company managed to retain the momentum as its stock further appreciated earlier this month, following its bullish guidance for the fourth quarter for passenger unit revenues. The improvement was due to better-than-expected close-in bookings and yields. Detailed results should be out on Jan 17. The Zacks Consensus Estimate for the fourth quarter has increased significantly to $1.65 per share following the bullish guidance on Jan 10. We are also positive on the commencement of the company’s flight services to Havana. It has also introduced multiple managerial changes recently in a bid to improve efficiencies.”
Several other equities research analysts have also commented on the stock. Imperial Capital boosted their price target on shares of United Continental Holdings from $76.00 to $82.00 and gave the company an in-line rating in a report on Thursday, January 12th. Morgan Stanley lowered shares of United Continental Holdings from an overweight rating to an equal weight rating and boosted their price target for the company from $72.00 to $73.00 in a report on Thursday, January 5th. They noted that the move was a valuation call. Cowen and Company lowered shares of United Continental Holdings from an outperform rating to a market perform rating and reduced their price target for the company from $77.00 to $75.00 in a report on Wednesday, January 4th. Sanford C. Bernstein restated a market perform rating and issued a $76.00 price target (up previously from $59.00) on shares of United Continental Holdings in a report on Wednesday, December 21st. Finally, Barclays PLC assumed coverage on shares of United Continental Holdings in a report on Thursday, December 15th. They issued an overweight rating and a $105.00 price target for the company. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. United Continental Holdings presently has a consensus rating of Buy and an average target price of $68.77.
United Continental Holdings (NYSE:UAL) opened at 74.02 on Monday. The company’s 50-day moving average is $73.12 and its 200-day moving average is $57.46. The company has a market cap of $23.49 billion, a P/E ratio of 9.45 and a beta of 0.71. United Continental Holdings has a 12 month low of $37.41 and a 12 month high of $76.80.
United Continental Holdings (NYSE:UAL) last posted its quarterly earnings results on Tuesday, January 17th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.73 by $0.05. United Continental Holdings had a net margin of 6.19% and a return on equity of 35.62%. The business earned $9.05 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that United Continental Holdings will post $6.64 EPS for the current fiscal year.
In other United Continental Holdings news, VP Chris Kenny sold 3,824 shares of United Continental Holdings stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $67.39, for a total transaction of $257,699.36. Following the completion of the sale, the vice president now directly owns 10,179 shares in the company, valued at approximately $685,962.81. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter Isaacson sold 2,638 shares of United Continental Holdings stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $75.80, for a total transaction of $199,960.40. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $379,000. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of United Continental Holdings during the third quarter valued at approximately $113,000. IFP Advisors Inc boosted its stake in shares of United Continental Holdings by 19.6% in the second quarter. IFP Advisors Inc now owns 2,551 shares of the company’s stock valued at $105,000 after buying an additional 418 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of United Continental Holdings during the second quarter valued at approximately $107,000. Global X Management Co. LLC boosted its stake in shares of United Continental Holdings by 134.3% in the third quarter. Global X Management Co. LLC now owns 2,631 shares of the company’s stock valued at $138,000 after buying an additional 1,508 shares during the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of United Continental Holdings during the third quarter valued at approximately $164,000. Institutional investors and hedge funds own 92.02% of the company’s stock.
United Continental Holdings Company Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates an average of approximately 5,000 flights a day to over 340 airports across six continents from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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