United Airlines (NASDAQ:UAL) Shares Gap Up to $48.47

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL) gapped up prior to trading on Thursday . The stock had previously closed at $48.47, but opened at $49.78. United Airlines shares last traded at $47.68, with a volume of 2,614,338 shares changing hands.

Wall Street Analyst Weigh In

UAL has been the topic of a number of analyst reports. Wolfe Research raised United Airlines from a “peer perform” rating to an “outperform” rating and set a $76.00 price target on the stock in a research note on Friday, May 17th. Citigroup raised their target price on United Airlines from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. TD Cowen raised their target price on United Airlines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Redburn Atlantic upgraded United Airlines from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Thursday, June 6th. Finally, Jefferies Financial Group upgraded United Airlines from a “hold” rating to a “buy” rating and raised their target price for the stock from $54.00 to $65.00 in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.68.

United Airlines Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.07. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 6.21, a P/E/G ratio of 1.02 and a beta of 1.43. The company has a 50 day simple moving average of $44.38 and a 200-day simple moving average of $47.26.

United Airlines (NASDAQ:UAL) last released its earnings results on Wednesday, July 17th. The transportation company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.97 by $0.17. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The firm had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.04 billion. During the same quarter in the previous year, the business posted $5.03 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts expect that United Airlines Holdings, Inc. will post 9.73 EPS for the current year.

Institutional Investors Weigh In On United Airlines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UAL. BNP Paribas acquired a new stake in shares of United Airlines in the first quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new position in United Airlines in the first quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of United Airlines during the 2nd quarter worth approximately $30,000. Crewe Advisors LLC bought a new stake in shares of United Airlines during the 1st quarter worth approximately $32,000. Finally, UMB Bank n.a. grew its stake in shares of United Airlines by 59.7% in the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after buying an additional 255 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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.