United Airlines (NASDAQ:UAL) Rating Increased to Outperform at Cowen

Cowen upgraded shares of United Airlines (NASDAQ:UAL) from a market perform rating to an outperform rating in a research note released on Monday morning, The Fly reports. Cowen currently has $53.00 price objective on the transportation company’s stock.

Several other research analysts have also issued reports on UAL. Morgan Stanley dropped their target price on United Airlines from $38.00 to $37.00 and set an underweight rating for the company in a research report on Friday, October 16th. JPMorgan Chase & Co. downgraded shares of United Airlines from an overweight rating to an underweight rating and dropped their price objective for the company from $47.00 to $44.00 in a research note on Wednesday, December 16th. Exane BNP Paribas started coverage on United Airlines in a report on Friday, November 13th. They set an underperform rating and a $32.00 price objective for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on United Airlines from $52.00 to $55.00 in a research note on Tuesday, December 15th. Finally, Jefferies Financial Group started coverage on United Airlines in a report on Tuesday, November 17th. They issued a hold rating and a $45.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $53.14.

UAL opened at $44.43 on Monday. United Airlines has a 1-year low of $17.80 and a 1-year high of $90.10. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.04 and a quick ratio of 0.98. The firm has a market cap of $13.00 billion, a P/E ratio of -2.70 and a beta of 1.51. The company has a 50 day simple moving average of $45.27 and a two-hundred day simple moving average of $37.84.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results 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 net margin of 19.85% and a negative return on equity of 54.29%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $4.07 earnings per share. United Airlines’s quarterly revenue was down 78.1% on a year-over-year basis. Equities analysts anticipate that United Airlines will post -25.98 earnings per share for the current year.

In related news, Chairman Oscar Munoz sold 115,227 shares of the business’s stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $40.24, for a total value of $4,636,734.48. Following the sale, the chairman now directly owns 135,713 shares in the company, valued at approximately $5,461,091.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michele J. Hooper bought 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, December 8th. The stock was acquired at an average price of $49.00 per share, for a total transaction of $93,100.00. Following the completion of the acquisition, the director now directly owns 3,042 shares in the company, valued at $149,058. The disclosure for this purchase can be found here. Insiders sold a total of 204,403 shares of company stock valued at $8,247,291 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in United Airlines by 28.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,224 shares of the transportation company’s stock worth $53,000 after acquiring an additional 270 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in shares of United Airlines by 75.1% during the 4th quarter. Sowell Financial Services LLC now owns 4,060 shares of the transportation company’s stock worth $176,000 after buying an additional 1,741 shares during the period. Brookstone Capital Management boosted its holdings in shares of United Airlines by 12.1% during the 4th quarter. Brookstone Capital Management now owns 7,523 shares of the transportation company’s stock worth $325,000 after buying an additional 811 shares during the period. Founders Capital Management acquired a new position in United Airlines during the 4th quarter valued at $55,000. Finally, TRUE Private Wealth Advisors raised its stake in United Airlines by 2,504.0% during the 4th quarter. TRUE Private Wealth Advisors now owns 3,906 shares of the transportation company’s stock valued at $168,000 after purchasing an additional 3,756 shares during the last quarter. Institutional investors and hedge funds own 60.61% of the company’s stock.

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. 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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The Fly

Analyst Recommendations for United Airlines (NASDAQ:UAL)

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