United Continental’s (UAL) “Hold” Rating Reaffirmed at Cowen
United Continental (NYSE:UAL)‘s stock had its “hold” rating reiterated by analysts at Cowen in a research report issued on Friday. They currently have a $67.00 price objective on the transportation company’s stock. Cowen’s price objective points to a potential upside of 5.43% from the company’s current price.
Several other research firms also recently commented on UAL. Morgan Stanley reissued an “equal weight” rating and issued a $71.00 price objective (down from $72.00) on shares of United Continental in a research note on Friday, September 1st. Citigroup increased their price objective on United Continental from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Bank of America reissued a “buy” rating and issued a $84.00 price objective (down from $85.00) on shares of United Continental in a research note on Tuesday, October 10th. Evercore ISI raised United Continental from an “in-line” rating to an “outperform” rating and set a $68.00 price objective for the company in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $110.00) on shares of United Continental in a research note on Friday, October 20th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.91.
United Continental (NYSE UAL) opened at $63.55 on Friday. United Continental has a 52-week low of $56.51 and a 52-week high of $83.04. The stock has a market capitalization of $18,820.92, a P/E ratio of 8.89, a PEG ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.53 and a current ratio of 0.60.
United Continental announced that its Board of Directors has initiated a share repurchase program on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Director Robert A. Milton bought 1,000 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was bought at an average cost of $58.60 per share, for a total transaction of $58,600.00. Following the acquisition, the director now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Shapiro bought 15,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $59.87 per share, with a total value of $898,050.00. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at $1,658,818.09. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. J. Goldman & Company purchased a new position in United Continental during the 3rd quarter valued at about $6,472,000. PGGM Investments purchased a new position in shares of United Continental in the 4th quarter valued at about $4,454,000. Frontier Capital Management Co. LLC boosted its stake in shares of United Continental by 37.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,983,055 shares of the transportation company’s stock valued at $170,929,000 after buying an additional 806,225 shares during the period. Princeton Capital Management Inc. boosted its stake in shares of United Continental by 3.9% in the 3rd quarter. Princeton Capital Management Inc. now owns 40,384 shares of the transportation company’s stock valued at $2,119,000 after buying an additional 1,525 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of United Continental by 7.2% in the 3rd quarter. Teachers Advisors LLC now owns 486,253 shares of the transportation company’s stock valued at $25,514,000 after buying an additional 32,725 shares during the period. Institutional investors own 95.92% of the company’s stock.
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United Continental 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 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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