United Airlines (NASDAQ:UAL) Price Target Raised to $84.00

United Airlines (NASDAQ:UAL) had its price objective boosted by analysts at Bank of America from $70.00 to $84.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.82% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Barclays boosted their price target on shares of United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen upped their price target on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Susquehanna raised their price target on shares of United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised their target price on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, United Airlines presently has an average rating of “Moderate Buy” and an average price target of $77.37.

United Airlines Stock Performance

Shares of United Airlines stock traded up $1.15 during mid-day trading on Thursday, hitting $73.16. 2,332,914 shares of the stock were exchanged, compared to its average volume of 8,610,920. The company has a market capitalization of $24.06 billion, a P/E ratio of 8.30, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.71 and a current ratio of 0.77. The company has a 50-day simple moving average of $50.08 and a 200 day simple moving average of $49.33. United Airlines has a 12 month low of $33.68 and a 12 month high of $73.65.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the business earned $3.65 earnings per share. Sell-side analysts anticipate that United Airlines will post 9.88 earnings per share for the current fiscal year.

United Airlines announced that its board has initiated a stock repurchase plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On United Airlines

Large investors have recently made changes to their positions in the company. BNP Paribas bought a new stake in United Airlines during the 1st quarter valued at $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of United Airlines in the 1st quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new position in United Airlines during the 2nd quarter worth $30,000. Crewe Advisors LLC acquired a new position in United Airlines during the 1st quarter valued at about $32,000. Finally, GoalVest Advisory LLC purchased a new stake in United Airlines in the first quarter valued at about $33,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

United Airlines Company Profile

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.