United Airlines (NASDAQ:UAL) Price Target Raised to $70.00

United Airlines (NASDAQ:UAL) had its target price increased by Raymond James from $66.00 to $70.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target indicates a potential upside of 37.28% from the company’s previous close.

Several other equities analysts also recently issued reports on UAL. Susquehanna lifted their price objective on United Airlines from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday. Morgan Stanley upped their price objective on United Airlines from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upped their target price on United Airlines from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Bank of America increased their target price on United Airlines from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group began coverage on United Airlines in a research note on Wednesday, March 20th. They set a “neutral” rating and a $47.00 target price on the stock. Four 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

United Airlines Stock Up 4.6 %

Shares of UAL traded up $2.25 during midday trading on Thursday, reaching $50.99. 24,394,355 shares of the stock were exchanged, compared to its average volume of 10,112,362. United Airlines has a 12-month low of $33.68 and a 12-month high of $58.23. The firm has a 50 day simple moving average of $44.09 and a 200-day simple moving average of $41.35. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 2.70. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 6.33, a P/E/G ratio of 0.58 and a beta of 1.55.

United Airlines (NASDAQ:UAL) last released its earnings results 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 return on equity of 40.50% and a net margin of 4.90%. The firm had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.55 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s revenue was up 9.9% on a year-over-year basis. Research analysts forecast that United Airlines will post 9.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in United Airlines by 2.1% during the first quarter. Vanguard Group Inc. now owns 34,550,592 shares of the transportation company’s stock valued at $1,601,764,000 after buying an additional 700,850 shares during the period. Capital International Investors bought a new stake in shares of United Airlines during the first quarter valued at approximately $351,299,000. Geode Capital Management LLC increased its position in shares of United Airlines by 2.1% during the first quarter. Geode Capital Management LLC now owns 7,018,196 shares of the transportation company’s stock valued at $310,174,000 after acquiring an additional 146,791 shares in the last quarter. Invesco Ltd. grew its position in United Airlines by 23.5% in the 3rd quarter. Invesco Ltd. now owns 4,649,616 shares of the transportation company’s stock worth $196,679,000 after purchasing an additional 885,199 shares during the period. Finally, U S Global Investors Inc. grew its position in shares of United Airlines by 31.9% during the 4th quarter. U S Global Investors Inc. now owns 4,159,899 shares of the transportation company’s stock valued at $171,637,000 after acquiring an additional 1,005,170 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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.