United Continental (UAL) Upgraded to Buy at Buckingham Research
Buckingham Research upgraded shares of United Continental (NYSE:UAL) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have $81.00 target price on the transportation company’s stock, up from their previous target price of $65.00.
A number of other research analysts have also recently issued reports on the company. Standpoint Research upgraded United Continental from a hold rating to a buy rating in a research report on Monday, December 18th. Imperial Capital lifted their target price on United Continental from $57.00 to $64.00 and gave the company an in-line rating in a research report on Wednesday, December 13th. Cowen reiterated a hold rating and issued a $67.00 target price on shares of United Continental in a research report on Friday, December 8th. TheStreet upgraded United Continental from a c+ rating to a b rating in a research report on Thursday, December 7th. Finally, ValuEngine upgraded United Continental from a buy rating to a strong-buy rating in a research report on Friday, December 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $79.47.
United Continental (NYSE UAL) traded down $0.03 during trading on Tuesday, reaching $67.25. The company’s stock had a trading volume of 2,154,461 shares, compared to its average volume of 4,143,858. United Continental has a 1 year low of $56.51 and a 1 year high of $83.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.53 and a current ratio of 0.60. The company has a market capitalization of $19,931.86, a PE ratio of 10.61, a PEG ratio of 1.72 and a beta of 1.04.
United Continental (NYSE:UAL) last released its earnings results on Wednesday, October 18th. The transportation company reported $2.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.10. United Continental had a return on equity of 25.26% and a net margin of 5.22%. The firm had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.87 billion. During the same quarter in the previous year, the business posted $3.11 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. research analysts forecast that United Continental will post 6.36 earnings per share for the current year.
United Continental announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In other news, Director Robert A. Milton purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were purchased at an average cost of $58.60 per share, with a total value of $58,600.00. Following the completion of the purchase, the director now owns 6,176 shares of the company’s stock, valued at approximately $361,913.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of United Continental by 4.3% in the second quarter. Vanguard Group Inc. now owns 22,706,502 shares of the transportation company’s stock worth $1,708,664,000 after acquiring an additional 930,321 shares during the period. Janus Henderson Group PLC lifted its stake in shares of United Continental by 30,735.3% in the second quarter. Janus Henderson Group PLC now owns 6,957,062 shares of the transportation company’s stock worth $523,519,000 after acquiring an additional 6,934,500 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of United Continental by 8.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,431,983 shares of the transportation company’s stock worth $208,949,000 after acquiring an additional 269,219 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of United Continental by 33.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,637,733 shares of the transportation company’s stock worth $160,585,000 after acquiring an additional 656,990 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of United Continental by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 2,186,098 shares of the transportation company’s stock worth $133,088,000 after acquiring an additional 222,636 shares during the period. 95.63% of the stock is currently owned by hedge funds and other institutional investors.
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About United Continental
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 flights 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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