United Continental (NYSE:UAL) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports.
Other analysts also recently issued research reports about the stock. TheStreet raised shares of United Continental from a “c+” rating to a “b” rating in a research report on Thursday, December 7th. Bank of America reaffirmed a “buy” rating and set a $84.00 price objective (down previously from $85.00) on shares of United Continental in a research report on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $110.00) on shares of United Continental in a research report on Friday, October 20th. Standpoint Research raised shares of United Continental from a “hold” rating to a “buy” rating in a research report on Monday, December 18th. Finally, Buckingham Research raised shares of United Continental from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $81.00 in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. United Continental currently has an average rating of “Hold” and a consensus price target of $83.47.
Shares of United Continental (NYSE:UAL) opened at $67.15 on Wednesday. The company has a market cap of $19,890.00, a P/E ratio of 9.50 and a beta of 1.05. United Continental has a 52-week low of $56.51 and a 52-week high of $83.04. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.37.
United Continental declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in United Continental by 9.3% during the 4th quarter. Victory Capital Management Inc. now owns 27,580 shares of the transportation company’s stock valued at $1,859,000 after acquiring an additional 2,353 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in United Continental during the 4th quarter valued at $568,000. Northwestern Mutual Wealth Management Co. lifted its stake in United Continental by 289.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,487 shares of the transportation company’s stock valued at $437,000 after acquiring an additional 4,820 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in United Continental by 2.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 31,567 shares of the transportation company’s stock valued at $2,128,000 after acquiring an additional 780 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in United Continental by 0.9% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 378,990 shares of the transportation company’s stock valued at $25,544,000 after acquiring an additional 3,232 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.
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About United Continental
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.
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