Bank of America Increases United Airlines (NASDAQ:UAL) Price Target to $84.00

United Airlines (NASDAQ:UAL) had its target price increased by equities research analysts at Bank of America from $70.00 to $84.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential upside of 13.28% from the stock’s previous close.

A number of other research firms have also recently weighed in on UAL. Jefferies Financial Group increased their price target on shares of United Airlines from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased their target price on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their price target on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna increased their price objective on United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley boosted their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, United Airlines presently has a consensus rating of “Moderate Buy” and an average target price of $78.88.

United Airlines Trading Up 1.1 %

United Airlines stock opened at $74.15 on Thursday. United Airlines has a 12 month low of $33.68 and a 12 month high of $74.95. The stock has a market cap of $24.38 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The business has a 50 day moving average price of $51.38 and a two-hundred day moving average price of $49.68. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.07.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. During the same period last year, the business earned $3.65 earnings per share. As a group, equities analysts forecast that United Airlines will post 9.88 EPS for the current year.

United Airlines declared that its board has authorized a stock repurchase program on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On United Airlines

Large investors have recently bought and sold shares of the company. BNP Paribas bought a new stake in shares of United Airlines in the first quarter worth about $25,000. Fidelis Capital Partners LLC bought a new stake in United Airlines during the 1st quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in United Airlines during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. bought a new position in United Airlines in the third quarter valued at approximately $36,000. Finally, Crewe Advisors LLC bought a new stake in shares of United Airlines during the first quarter worth $32,000. Institutional investors own 69.69% 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. 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.