Investors Buy Shares of United Continental (UAL) on Weakness

Traders bought shares of United Continental Holdings Inc (NYSE:UAL) on weakness during trading hours on Friday. $150.86 million flowed into the stock on the tick-up and $46.64 million flowed out of the stock on the tick-down, for a money net flow of $104.22 million into the stock. Of all companies tracked, United Continental had the 15th highest net in-flow for the day. United Continental traded down ($0.21) for the day and closed at $92.35

UAL has been the subject of a number of research reports. Bank of America increased their target price on United Continental from $94.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Macquarie raised United Continental from a “neutral” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Thursday, July 19th. Morgan Stanley lowered their target price on United Continental from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, July 12th. Stephens raised United Continental from an “equal weight” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Thursday, October 18th. Finally, Imperial Capital increased their target price on United Continental from $91.00 to $101.00 and gave the stock an “inline” rating in a research note on Thursday, October 18th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $100.38.

United Continental (NYSE:UAL) last released its quarterly earnings results on Tuesday, October 16th. The transportation company reported $3.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.01). The business had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.95 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in UAL. Lansdowne Partners UK LLP acquired a new position in United Continental during the 2nd quarter worth approximately $251,781,000. Bank of Montreal Can boosted its position in United Continental by 995.6% during the 3rd quarter. Bank of Montreal Can now owns 961,261 shares of the transportation company’s stock worth $85,609,000 after acquiring an additional 873,525 shares during the last quarter. Calamos Advisors LLC acquired a new position in United Continental during the 2nd quarter worth approximately $49,434,000. Ashler Capital LLC acquired a new position in United Continental during the 2nd quarter worth approximately $34,688,000. Finally, Gateway Investment Advisers LLC acquired a new position in United Continental during the 2nd quarter worth approximately $18,007,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Investors Buy Shares of United Continental (UAL) on Weakness” was posted by WKRB News and is the property of of WKRB News. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.wkrb13.com/2018/11/10/investors-buy-shares-of-united-continental-ual-on-weakness.html.

About United Continental (NYSE:UAL)

United Continental Holdings, Inc, together with its subsidiaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline and regional operations. As of December 31, 2017, the company operated a fleet of 1,262 aircraft.

Recommended Story: Liquidity

Receive News & Ratings for United Continental Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Continental and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply