United Continental (NYSE:UAL) was upgraded by research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.
Several other brokerages also recently issued reports on UAL. Citigroup upped their price objective on shares of United Continental from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Barclays reaffirmed a “buy” rating and set a $80.00 price target on shares of United Continental in a research note on Monday, September 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $71.00 price target (down previously from $72.00) on shares of United Continental in a research note on Friday, September 1st. Stephens reaffirmed an “equal weight” rating and set a $65.00 price target (down previously from $80.00) on shares of United Continental in a research note on Thursday, September 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target on shares of United Continental in a research note on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $78.29.
Shares of United Continental (NYSE UAL) traded down $0.13 during midday trading on Tuesday, hitting $64.43. 3,331,338 shares of the company’s stock traded hands, compared to its average volume of 4,370,405. United Continental has a 12 month low of $56.51 and a 12 month high of $83.04. The stock has a market capitalization of $18,889.05, a P/E ratio of 8.92, a PEG ratio of 1.64 and a beta of 1.04. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.
United Continental (NYSE:UAL) last announced its quarterly earnings data on Wednesday, October 18th. The transportation company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.10. The business had revenue of $9.88 billion for the quarter, compared to the consensus estimate of $9.87 billion. United Continental had a net margin of 5.22% and a return on equity of 25.26%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.11 earnings per share. equities research analysts expect that United Continental will post 6.35 earnings per share for the current fiscal year.
United Continental declared that its board has approved a share buyback plan on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Robert A. Milton acquired 1,000 shares of United Continental stock in a transaction on Tuesday, October 24th. The shares were purchased at an average cost 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 approximately $361,913.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of UAL. Hosking Partners LLP lifted its position in United Continental by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 486,710 shares of the transportation company’s stock valued at $36,625,000 after purchasing an additional 7,737 shares during the last quarter. Pacad Investment Ltd. bought a new stake in United Continental in the 2nd quarter valued at about $3,306,000. Sciencast Management LP bought a new stake in United Continental in the 2nd quarter valued at about $1,822,000. First Dallas Securities Inc. bought a new stake in United Continental in the 3rd quarter valued at about $504,000. Finally, Thrivent Financial For Lutherans lifted its position in United Continental by 1.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,147,310 shares of the transportation company’s stock valued at $86,335,000 after purchasing an additional 18,310 shares during the last quarter. Institutional investors own 95.63% 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.