United Airlines (NASDAQ:UAL) Price Target Raised to $84.00 at Bank of America

United Airlines (NASDAQ:UAL) had its target price hoisted by Bank of America from $70.00 to $84.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

UAL has been the subject of several other research reports. TD Cowen upped their target price on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna upped their price objective on shares of United Airlines from $60.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Jefferies Financial Group lifted their target price on United Airlines from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Barclays raised their price target on United Airlines from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.51.

United Airlines Stock Up 1.1 %

NASDAQ:UAL opened at $74.15 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. United Airlines has a 12-month low of $33.68 and a 12-month high of $74.95. The stock’s fifty day simple moving average is $51.38 and its 200-day simple moving average is $49.75. The firm has a market capitalization of $24.39 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.98 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter last year, the business earned $3.65 earnings per share. Equities research analysts expect that United Airlines will post 10.05 earnings per share for the current year.

United Airlines announced that its Board of Directors has approved a share buyback program on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On United Airlines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. increased its position in shares of United Airlines by 8.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 5,671 shares of the transportation company’s stock valued at $234,000 after acquiring an additional 447 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of United Airlines during the 4th quarter worth approximately $300,000. Moody National Bank Trust Division bought a new stake in shares of United Airlines during the 1st quarter worth approximately $227,000. GAMMA Investing LLC grew its stake in shares of United Airlines by 54.9% in the first quarter. GAMMA Investing LLC now owns 2,698 shares of the transportation company’s stock valued at $129,000 after buying an additional 956 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of United Airlines in the first quarter valued at $44,000. 69.69% of the stock is owned by institutional investors.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.