United Airlines (NASDAQ:UAL) Sees Strong Trading Volume After Analyst Upgrade

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL) saw an uptick in trading volume on Thursday after Raymond James raised their price target on the stock from $66.00 to $70.00. Raymond James currently has an outperform rating on the stock. 9,046,176 shares were traded during trading, a decline of 8% from the previous session’s volume of 9,844,872 shares.The stock last traded at $50.34 and had previously closed at $48.74.

A number of other brokerages also recently issued reports on UAL. Evercore ISI raised shares of United Airlines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $65.00 in a research report on Friday, February 9th. Morgan Stanley lifted their target price on shares of United Airlines from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen lifted their target price on shares of United Airlines from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. UBS Group started coverage on shares of United Airlines in a research note on Wednesday, March 20th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Bank of America lifted their target price on shares of United Airlines from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Institutional Trading of United Airlines

Several hedge funds have recently made changes to their positions in the business. Kovack Advisors Inc. purchased a new stake in shares of United Airlines during the 1st quarter valued at about $266,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in United Airlines by 7.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,491 shares of the transportation company’s stock worth $1,604,000 after acquiring an additional 2,254 shares in the last quarter. tru Independence LLC boosted its stake in shares of United Airlines by 0.3% during the first quarter. tru Independence LLC now owns 118,230 shares of the transportation company’s stock valued at $5,661,000 after purchasing an additional 353 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of United Airlines during the first quarter valued at approximately $219,000. Finally, Richardson Capital Management LLC bought a new position in shares of United Airlines during the first quarter valued at approximately $37,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Trading Down 0.1 %

The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 2.52. The stock’s 50 day moving average price is $44.47 and its 200-day moving average price is $41.49. The stock has a market capitalization of $16.89 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.70 and a beta of 1.55.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.39. United Airlines had a net margin of 4.90% and a return on equity of 39.85%. The firm had revenue of $13.63 billion for the quarter, compared to the consensus estimate of $13.55 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that United Airlines Holdings, Inc. will post 9.3 earnings per share for the current year.

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.