United Airlines (NASDAQ:UAL) Sees Strong Trading Volume After Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL) shares saw strong trading volume on Thursday after Morgan Stanley raised their price target on the stock from $75.00 to $80.00. Morgan Stanley currently has an overweight rating on the stock. 9,046,176 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 9,844,872 shares.The stock last traded at $50.34 and had previously closed at $48.74.

A number of other equities research analysts also recently weighed in on UAL. Evercore ISI upgraded United Airlines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $65.00 in a research report on Friday, February 9th. UBS Group started coverage on shares of United Airlines in a research note on Wednesday, March 20th. They set a “neutral” rating and a $47.00 price target for the company. StockNews.com raised shares of United Airlines from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America increased their price target on United Airlines from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TD Cowen lifted their price objective on United Airlines from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, United Airlines has a consensus rating of “Moderate Buy” and a consensus target price of $66.20.

Institutional Investors Weigh In On United Airlines

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

United Airlines Stock Performance

The stock has a market capitalization of $16.54 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.55. The company has a 50-day moving average price of $44.09 and a two-hundred day moving average price of $41.35. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 2.70.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.39. United Airlines had a net margin of 4.90% and a return on equity of 40.50%. The business had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.55 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. United Airlines’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that United Airlines Holdings, Inc. will post 9.46 earnings per share for the current year.

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.