United Continental (NYSE:UAL) was downgraded by stock analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a note issued to investors on Wednesday, Marketbeat.com reports.
A number of other research firms also recently commented on UAL. Morgan Stanley set a $71.00 price objective on United Continental and gave the stock a “hold” rating in a report on Wednesday. Buckingham Research upped their price objective on United Continental from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upped their price objective on United Continental from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday. Imperial Capital restated an “in-line” rating and set a $74.00 price objective (up from $64.00) on shares of United Continental in a report on Thursday, January 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $130.00 price objective (up from $100.00) on shares of United Continental in a report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $82.19.
United Continental (NYSE:UAL) traded down $8.92 during mid-day trading on Wednesday, hitting $69.05. The stock had a trading volume of 27,088,808 shares, compared to its average volume of 4,090,000. The firm has a market cap of $20,460.00, a P/E ratio of 9.77 and a beta of 1.05. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.37. United Continental has a 1-year low of $56.51 and a 1-year high of $83.04.
United Continental announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System increased its holdings in United Continental by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 722,299 shares of the transportation company’s stock valued at $43,974,000 after purchasing an additional 14,899 shares in the last quarter. Sciencast Management LP acquired a new stake in United Continental in the 2nd quarter valued at $1,822,000. First Dallas Securities Inc. acquired a new stake in United Continental in the 3rd quarter valued at $504,000. Point72 Asset Management L.P. acquired a new stake in United Continental in the 3rd quarter valued at $28,887,000. Finally, FNY Managed Accounts LLC acquired a new stake in United Continental in the 3rd quarter valued at $560,000. Hedge funds and other institutional investors own 95.70% of the company’s stock.
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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.
