Zacks Investment Research upgraded shares of United Airlines (NASDAQ:UAL) from a sell rating to a hold rating in a report released on Monday morning, Zacks.com reports. The firm currently has $45.00 price objective on the transportation company’s stock.

According to Zacks, “Shares of United Airlines have declined 29.7% since the beginning of March due to coronavirus-led demand depression. Owing to low demand, the carrier incurred a loss in the third quarter, echoing the first two quarters' performance. Passenger revenues dropped 68.4% in the first nine months of 2020. Due to a spike in coronavirus cases in the United States, the carrier provided a bleak outlook for the fourth quarter. Amid adversities, a second round of coronavirus aid, granting airlines $15 billion in payroll support, offers some relief. With this additional aid on the way, United Airlines will bring back its furloughed workers. Moreover, low fuel prices are aiding the company’s bottom line. Its cost-control efforts to combat coronavirus-led woes are encouraging. Notably, operating expenses fell 44.1% in the first nine months of 2020.”

A number of other analysts have also recently weighed in on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of United Airlines from $52.00 to $55.00 in a research report on Tuesday, December 15th. Bank of America cut shares of United Airlines from a neutral rating to an underperform rating in a research report on Friday, January 8th. BNP Paribas assumed coverage on shares of United Airlines in a research report on Friday, November 13th. They set an underperform rating and a $32.00 price target for the company. UBS Group raised shares of United Airlines from a neutral rating to a buy rating and upped their price target for the stock from $33.00 to $62.00 in a research report on Friday, December 11th. Finally, Exane BNP Paribas assumed coverage on shares of United Airlines in a research report on Friday, November 13th. They set an underperform rating and a $32.00 price target for the company. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $53.14.

UAL stock opened at $44.43 on Monday. The company has a market cap of $13.00 billion, a price-to-earnings ratio of -2.70 and a beta of 1.51. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 3.22. The business has a fifty day simple moving average of $45.27 and a 200-day simple moving average of $37.84. United Airlines has a 52 week low of $17.80 and a 52 week high of $90.10.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Wednesday, October 14th. The transportation company reported ($8.16) EPS for the quarter, missing analysts’ consensus estimates of ($7.63) by ($0.53). United Airlines had a negative return on equity of 54.29% and a negative net margin of 19.85%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the company earned $4.07 earnings per share. The company’s quarterly revenue was down 78.1% on a year-over-year basis. As a group, analysts expect that United Airlines will post -25.98 earnings per share for the current fiscal year.

In other news, Chairman Oscar Munoz sold 115,227 shares of the business’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $40.24, for a total value of $4,636,734.48. Following the completion of the sale, the chairman now directly owns 135,713 shares in the company, valued at approximately $5,461,091.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gerald Laderman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $40.44, for a total value of $404,400.00. Following the completion of the sale, the chief financial officer now owns 53,205 shares of the company’s stock, valued at $2,151,610.20. The disclosure for this sale can be found here. Insiders sold a total of 204,403 shares of company stock valued at $8,247,291 over the last quarter. Company insiders own 0.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in United Airlines by 28.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,224 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 270 shares during the period. NuWave Investment Management LLC boosted its position in United Airlines by 4.8% during the 4th quarter. NuWave Investment Management LLC now owns 8,092 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 369 shares during the period. PNC Financial Services Group Inc. boosted its position in United Airlines by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,315 shares of the transportation company’s stock valued at $600,000 after purchasing an additional 409 shares during the period. Private Advisor Group LLC boosted its position in United Airlines by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 18,775 shares of the transportation company’s stock valued at $645,000 after purchasing an additional 411 shares during the period. Finally, Parallel Advisors LLC boosted its position in United Airlines by 90.0% during the 3rd quarter. Parallel Advisors LLC now owns 910 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 60.61% of the company’s stock.

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. It transports people and cargo through its mainline and regional fleets. As of February 28, 2020, the company operated approximately 791 mainline aircraft.

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