United Continental (UAL) Raised to “Buy” at Citigroup

Citigroup upgraded shares of United Continental (NYSE:UAL) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat reports. The firm currently has $76.00 target price on the transportation company’s stock.

A number of other brokerages also recently commented on UAL. Buckingham Research downgraded United Continental from a buy rating to a neutral rating and increased their price objective for the company from $49.28 to $59.80 in a research report on Monday, September 18th. Barclays reiterated a buy rating and set a $80.00 price objective on shares of United Continental in a research report on Monday, September 25th. Stifel Nicolaus reiterated a buy rating and set a $110.00 price objective on shares of United Continental in a research report on Wednesday, September 20th. Cowen reiterated a market perform rating and set a $70.00 price objective (up previously from $63.00) on shares of United Continental in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded United Continental from a sell rating to a hold rating in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $81.69.

United Continental (NYSE UAL) traded up $1.95 on Wednesday, reaching $78.40. The company’s stock had a trading volume of 4,433,600 shares, compared to its average volume of 4,190,000. The firm has a market capitalization of $23,230.00, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.53. United Continental has a 12-month low of $56.51 and a 12-month high of $83.04.

United Continental (NYSE:UAL) last announced its quarterly earnings data on Wednesday, October 18th. The transportation company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.10. United Continental had a return on equity of 25.26% and a net margin of 5.22%. The company had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.87 billion. During the same quarter in the prior year, the firm earned $3.11 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. research analysts predict that United Continental will post 6.59 earnings per share for the current fiscal year.

United Continental announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Robert A. Milton bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were bought at an average cost of $58.60 per share, with a total value of $58,600.00. Following the purchase, the director now directly owns 6,176 shares in the company, valued at $361,913.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its stake in United Continental by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 722,299 shares of the transportation company’s stock valued at $43,974,000 after purchasing an additional 14,899 shares during the period. Sciencast Management LP acquired a new stake in United Continental during the 2nd quarter valued at $1,822,000. First Dallas Securities Inc. acquired a new stake in United Continental during the 3rd quarter valued at $504,000. Thrivent Financial For Lutherans raised its stake in United Continental by 1.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 1,147,310 shares of the transportation company’s stock valued at $86,335,000 after purchasing an additional 18,310 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in United Continental during the 3rd quarter valued at $28,887,000. 95.63% of the stock is currently owned by institutional investors.

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United Continental Company Profile

United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.

Analyst Recommendations for United Continental (NYSE:UAL)

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