J P Morgan Chase & Co Downgrades United Continental Holdings, Inc. (UAL) to Neutral
United Continental Holdings, Inc. (NYSE:UAL) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued on Friday. They currently have a $68.00 price target on the transportation company’s stock, down from their prior price target of $84.00. J P Morgan Chase & Co’s price objective would indicate a potential upside of 13.71% from the stock’s previous close.
Several other research firms have also recently commented on UAL. BidaskClub cut shares of United Continental Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Morgan Stanley reissued an “equal weight” rating and set a $71.00 price target (down from $72.00) on shares of United Continental Holdings in a research report on Friday, September 1st. Imperial Capital boosted their price objective on shares of United Continental Holdings from $75.00 to $77.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 18th. Buckingham Research restated a “buy” rating and set a $97.00 price objective on shares of United Continental Holdings in a research note on Saturday, July 22nd. Finally, Bank of America Corporation restated a “buy” rating and set a $105.00 price objective on shares of United Continental Holdings in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. United Continental Holdings currently has a consensus rating of “Hold” and an average target price of $81.92.
United Continental Holdings (NYSE:UAL) opened at 59.80 on Friday. The firm’s 50-day moving average price is $64.14 and its 200-day moving average price is $71.77. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 8.26 and a beta of 1.06. United Continental Holdings has a 52 week low of $49.28 and a 52 week high of $83.04. United Continental Holdings also was the recipient of unusually large options trading activity on Thursday. Stock traders bought 1,399 call options on the company. This is an increase of approximately 115% compared to the typical volume of 650 call options.
United Continental Holdings (NYSE:UAL) last released its earnings results on Tuesday, July 18th. The transportation company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.44. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $9.95 billion. United Continental Holdings had a net margin of 6.09% and a return on equity of 29.46%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.61 EPS. On average, equities analysts expect that United Continental Holdings will post $6.71 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC raised its holdings in United Continental Holdings by 0.9% during the 2nd quarter. MCF Advisors LLC now owns 1,529 shares of the transportation company’s stock valued at $115,000 after buying an additional 13 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in United Continental Holdings during the 1st quarter valued at $122,000. FNY Partners Fund LP increased its position in United Continental Holdings by 2,073.9% during the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 1,908 shares during the period. Sun Life Financial INC increased its position in United Continental Holdings by 18,645.5% during the 2nd quarter. Sun Life Financial INC now owns 2,062 shares of the transportation company’s stock valued at $155,000 after purchasing an additional 2,051 shares during the period. Finally, TrimTabs Asset Management LLC increased its position in United Continental Holdings by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,074 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 976 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.
About United Continental Holdings
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.
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