United Airlines (NASDAQ:UAL) Given New $84.00 Price Target at Bank of America

United Airlines (NASDAQ:UAL) had its target price hoisted by Bank of America from $70.00 to $84.00 in a research report report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on UAL. Morgan Stanley lifted their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna boosted their price objective on shares of United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. TD Cowen increased their target price on United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on United Airlines from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Barclays lifted their price objective on United Airlines from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.88.

United Airlines Stock Performance

United Airlines stock opened at $73.33 on Thursday. United Airlines has a twelve month low of $33.68 and a twelve month high of $74.56. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $24.11 billion, a P/E ratio of 8.32, a PEG ratio of 0.94 and a beta of 1.44. The stock’s 50 day moving average is $50.73 and its 200 day moving average is $49.50.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. During the same period in the prior year, the firm posted $3.65 earnings per share. On average, equities research analysts predict that United Airlines will post 9.88 earnings per share for the current fiscal year.

United Airlines announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of United Airlines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC grew its position in shares of United Airlines by 16.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,527 shares of the transportation company’s stock valued at $429,000 after acquiring an additional 1,057 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in United Airlines by 19.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,928 shares of the transportation company’s stock valued at $338,000 after purchasing an additional 982 shares in the last quarter. Creative Planning grew its holdings in United Airlines by 16.5% during the third quarter. Creative Planning now owns 132,807 shares of the transportation company’s stock valued at $7,578,000 after purchasing an additional 18,767 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in United Airlines in the third quarter worth about $36,000. Finally, Crestmont Private Wealth LLC bought a new position in shares of United Airlines in the third quarter worth about $208,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

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.