United Airlines (NASDAQ: UAL) PT Lowered to $ 56.00 at Citigroup


United Airlines (NASDAQ: UAL – Get Rating) had its target price reduced by research analysts at Citigroup from $ 71.00 to $ 56.00 in a report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 58.46% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on UAL. Susquehanna downgraded United Airlines from a “positive” rating to a “neutral” rating and lowered their price target for the company from $ 43.00 to $ 35.00 in a research report on Monday. Morgan Stanley lifted their price objective on United Airlines from $ 62.00 to $ 67.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. The Goldman Sachs Group lifted their price objective on United Airlines from $ 52.00 to $ 59.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Evercore ISI dropped their price target on United Airlines to $ 38.00 in a research report on Friday, July 22nd. Finally, Raymond James dropped their price target on United Airlines from $ 62.00 to $ 48.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, United Airlines currently has a consensus rating of “Hold” and an average price target of $ 52.75.

United Airlines Stock Performance

Shares of UAL opened at $ 35.34 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 7.41. The company has a market capitalization of $ 11.55 billion, a price-to-earnings ratio of -9.32 and a beta of 1.32. The stock has a 50 day moving average of $ 39.91 and a 200 day moving average of $ 42.80. United Airlines has a 12 month low of $ 30.54 and a 12 month high of $ 54.52.

United Airlines (NASDAQ: UAL – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The transportation company reported $ 1.43 earnings per share for the quarter, missing the consensus estimate of $ 1.77 by ($ 0.34). United Airlines had a negative net margin of 3.43% and a negative return on equity of 38.92%. The firm had revenue of $ 12.11 billion for the quarter, compared to the consensus estimate of $ 12.11 billion. During the same period last year, the company posted ($ 3.91) earnings per share. United Airlines’s revenue for the quarter was up 121.4% on a year-over-year basis. As a group, sell-side analysts forecast that United Airlines will post 0.38 earnings per share for the current year.

Insider Activity

In other United Airlines news, VP Chris Kenny sold 9,700 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $ 47.88, for a total value of $ 464,436.00. Following the transaction, the vice president now directly owns 19,605 shares in the company, valued at approximately $ 938,687.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Chris Kenny sold 9,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $ 47.88, for a total value of $ 464,436.00. Following the sale, the vice president now directly owns 19,605 shares of the company’s stock, valued at approximately $ 938,687.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Shapiro bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average cost of $ 37.69 per share, for a total transaction of $ 1,884,500.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at $ 3,769,000. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in United Airlines by 25.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,550 shares of the transportation company’s stock worth $ 1,224,000 after buying an additional 7,083 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in United Airlines during the 2nd quarter valued at about $ 89,000. Everence Capital Management Inc. acquired a new stake in shares of United Airlines during the 2nd quarter worth about $ 463,000. OLD National Bancorp IN boosted its stake in shares of United Airlines by 3.2% during the 2nd quarter. OLD National Bancorp IN now owns 145,875 shares of the transportation company’s stock worth $ 5,167,000 after purchasing an additional 4,521 shares during the last quarter. Finally, Hartford Investment Management Co. boosted its stake in shares of United Airlines by 2.1% during the 2nd quarter. Hartford Investment Management Co. now owns 31,377 shares of the transportation company’s stock worth $ 1,111,000 after purchasing an additional 635 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

About United Airlines

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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, training, and maintenance services for third parties.

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