United Continental (NYSE:UAL) had its price target boosted by equities research analysts at Imperial Capital from $57.00 to $64.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has an “in-line” rating on the transportation company’s stock. Imperial Capital’s price objective would indicate a potential upside of 1.54% from the company’s current price.
Several other research analysts have also commented on UAL. TheStreet upgraded shares of United Continental from a “c+” rating to a “b” rating in a report on Thursday, December 7th. Cowen restated a “hold” rating and issued a $67.00 price target on shares of United Continental in a report on Friday, December 8th. Zacks Investment Research lowered shares of United Continental from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target on shares of United Continental in a report on Wednesday, September 20th. Finally, Macquarie began coverage on shares of United Continental in a report on Monday, September 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $78.29.
United Continental (UAL) traded down $0.33 on Wednesday, hitting $63.03. 3,727,055 shares of the company traded hands, compared to its average volume of 4,361,443. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.53. United Continental has a twelve month low of $56.51 and a twelve month high of $83.04. The firm has a market capitalization of $19,031.25, a PE ratio of 8.98, a PEG ratio of 1.66 and a beta of 1.04.
United Continental announced that its board has initiated a share repurchase 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 reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Edward Shapiro acquired 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were bought at an average price of $59.87 per share, for a total transaction of $898,050.00. Following the completion of the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $1,658,818.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert A. Milton acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were purchased at an average price of $58.60 per share, for a total transaction of $58,600.00. Following the purchase, the director now directly owns 6,176 shares of the company’s stock, valued at $361,913.60. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of United Continental by 4.3% during the second quarter. Vanguard Group Inc. now owns 22,706,502 shares of the transportation company’s stock valued at $1,708,664,000 after purchasing an additional 930,321 shares during the period. Janus Henderson Group PLC raised its stake in shares of United Continental by 30,735.3% during the second quarter. Janus Henderson Group PLC now owns 6,957,062 shares of the transportation company’s stock valued at $523,519,000 after purchasing an additional 6,934,500 shares during the period. Dimensional Fund Advisors LP grew its position in shares of United Continental by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,431,983 shares of the transportation company’s stock worth $208,949,000 after buying an additional 269,219 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of United Continental by 33.2% during 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 buying an additional 656,990 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of United Continental by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 2,186,098 shares of the transportation company’s stock worth $133,088,000 after buying an additional 222,636 shares in the last quarter. Institutional investors own 95.92% of the company’s stock.
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.
