United Continental (UAL) Price Target Raised to $64.00
United Continental (NYSE:UAL) had its price target raised by stock analysts at Imperial Capital from $57.00 to $64.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “in-line” rating on the transportation company’s stock. Imperial Capital’s price target would suggest a potential upside of 1.01% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $71.00 target price (down previously from $72.00) on shares of United Continental in a research note on Friday, September 1st. Citigroup lifted their target price on shares of United Continental from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Bank of America reissued a “buy” rating and set a $84.00 target price (down previously from $85.00) on shares of United Continental in a research note on Tuesday, October 10th. Evercore ISI raised shares of United Continental from an “in-line” rating to an “outperform” rating and set a $68.00 target price for the company in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down previously from $110.00) on shares of United Continental in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.29.
United Continental (UAL) opened at $63.36 on Wednesday. United Continental has a 52 week low of $56.51 and a 52 week high of $83.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.53. The company has a market cap of $19,031.25, a P/E ratio of 8.98, a P/E/G ratio of 1.66 and a beta of 1.04.
United Continental declared that its board has authorized a share repurchase plan on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other United Continental news, Director Robert A. Milton purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were acquired at an average price of $58.60 per share, for a total transaction of $58,600.00. Following the acquisition, the director now owns 6,176 shares of the company’s stock, valued at $361,913.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Shapiro purchased 15,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $59.87 per share, for a total transaction of $898,050.00. Following the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $1,658,818.09. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of United Continental by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,706,502 shares of the transportation company’s stock valued at $1,708,664,000 after purchasing an additional 930,321 shares in the last quarter. Janus Henderson Group PLC raised its holdings in United Continental by 30,735.3% in the 2nd quarter. Janus Henderson Group PLC now owns 6,957,062 shares of the transportation company’s stock worth $523,519,000 after acquiring an additional 6,934,500 shares during the period. Dimensional Fund Advisors LP raised its holdings in United Continental by 8.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,431,983 shares of the transportation company’s stock worth $208,949,000 after acquiring an additional 269,219 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in United Continental by 33.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,637,733 shares of the transportation company’s stock worth $160,585,000 after acquiring an additional 656,990 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in United Continental by 11.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,186,098 shares of the transportation company’s stock worth $133,088,000 after acquiring an additional 222,636 shares during the period. Institutional investors and hedge funds own 95.92% of the company’s stock.
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About United Continental
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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