United Continental (NYSE:UAL) was upgraded by research analysts at Standpoint Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.
Other equities analysts also recently issued research reports about the company. TheStreet raised United Continental from a “c+” rating to a “b” rating in a research report on Thursday, December 7th. Bank of America reissued a “buy” rating and set a $84.00 price target (down previously from $85.00) on shares of United Continental in a research report on Tuesday, October 10th. Barclays reissued a “buy” rating and set a $80.00 price target on shares of United Continental in a research report on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and set a $110.00 price target on shares of United Continental in a research report on Wednesday, September 20th. Finally, Stephens reissued an “equal weight” rating and set a $65.00 price target (down previously from $80.00) on shares of United Continental in a research report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.29.
Shares of United Continental (UAL) traded up $0.63 during mid-day trading on Monday, reaching $63.76. The company had a trading volume of 6,744,200 shares, compared to its average volume of 4,377,396. The firm has a market capitalization of $18,889.03, a PE ratio of 8.92, a PEG ratio of 1.64 and a beta of 1.04. United Continental has a 52-week low of $56.51 and a 52-week 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.
United Continental announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other United Continental news, Director Robert A. Milton acquired 1,000 shares of the stock in a transaction dated Tuesday, October 24th. The stock was acquired at an average price of $58.60 per share, with a total value of $58,600.00. Following the completion of the transaction, the director now directly owns 6,176 shares in the company, valued at $361,913.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in UAL. Exane Derivatives grew its position in shares of United Continental by 373.7% in the third quarter. Exane Derivatives now owns 1,852 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 1,461 shares during the period. Sun Life Financial INC grew its position in United Continental by 18,645.5% during the second quarter. Sun Life Financial INC now owns 2,062 shares of the transportation company’s stock valued at $155,000 after acquiring an additional 2,051 shares during the period. Captrust Financial Advisors purchased a new stake in United Continental during the second quarter valued at about $181,000. Institute for Wealth Management LLC. purchased a new stake in United Continental during the second quarter valued at about $208,000. Finally, Beach Investment Management LLC. purchased a new stake in United Continental during the second quarter valued at about $227,000. 95.92% of the stock is owned by institutional investors and hedge funds.
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.
