Morgan Stanley Cuts United Continental Holdings, Inc. (UAL) Price Target to $72.00
United Continental Holdings, Inc. (NYSE:UAL) had its price objective lowered by investment analysts at Morgan Stanley from $79.00 to $72.00 in a report released on Thursday. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 7.59% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Cowen and Company restated a “market perform” rating and set a $75.00 price target on shares of United Continental Holdings in a research report on Wednesday, April 19th. UBS AG restated a “buy” rating and set a $103.00 price target (up previously from $95.00) on shares of United Continental Holdings in a research report on Friday, June 9th. Bank of America Corporation reduced their price target on shares of United Continental Holdings from $105.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, June 30th. BidaskClub downgraded shares of United Continental Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Atlantic Securities assumed coverage on shares of United Continental Holdings in a research report on Tuesday, June 20th. They set an “overweight” rating and a $100.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. United Continental Holdings presently has a consensus rating of “Hold” and a consensus price target of $84.34.
Shares of United Continental Holdings (UAL) traded down 3.32% during midday trading on Thursday, hitting $64.70. The stock had a trading volume of 3,892,556 shares. The stock has a market cap of $19.68 billion, a PE ratio of 8.94 and a beta of 1.03. The firm has a 50 day moving average price of $72.26 and a 200-day moving average price of $73.50. United Continental Holdings has a 52-week low of $46.53 and a 52-week high of $83.04.
United Continental Holdings (NYSE:UAL) last released its quarterly earnings results on Tuesday, July 18th. The transportation company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.44. United Continental Holdings had a net margin of 6.09% and a return on equity of 29.46%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.95 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts predict that United Continental Holdings will post $7.81 EPS for the current fiscal year.
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In other news, EVP Gregory L. Hart sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $76.83, for a total transaction of $230,490.00. Following the completion of the sale, the executive vice president now owns 28,369 shares in the company, valued at approximately $2,179,590.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of United Continental Holdings by 4,642.3% in the first quarter. BlackRock Inc. now owns 22,075,033 shares of the transportation company’s stock worth $1,559,382,000 after buying an additional 21,609,536 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of United Continental Holdings 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 buying an additional 6,934,500 shares in the last quarter. Boston Partners increased its stake in shares of United Continental Holdings by 37.7% in the second quarter. Boston Partners now owns 4,840,050 shares of the transportation company’s stock worth $364,214,000 after buying an additional 1,324,894 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of United Continental Holdings 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 buying an additional 930,321 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of United Continental Holdings by 113.5% in the second quarter. Parametric Portfolio Associates LLC now owns 1,144,832 shares of the transportation company’s stock worth $86,149,000 after buying an additional 608,570 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.
About United Continental Holdings
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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