United Airlines (NASDAQ:UAL) Stock Gets Price Target Cut from Wells Fargo & Company

United Airlines (NASDAQ:UAL) had its target price cut by Wells Fargo & Company from $160.00 to $155.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on UAL. Sanford C. Bernstein set a $160.00 target price on shares of United Airlines in a research report on Tuesday. Evercore restated an “outperform” rating and set a $160.00 price target on shares of United Airlines in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of United Airlines from $131.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Rothschild & Co Redburn cut their price objective on shares of United Airlines from $165.00 to $150.00 and set a “buy” rating for the company in a report on Friday, September 18th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $142.00 target price on shares of United Airlines in a research note on Wednesday. Sixteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Airlines has an average rating of “Moderate Buy” and a consensus target price of $156.19.

United Airlines Stock Down 4.0%

NASDAQ UAL opened at $97.93 on Thursday. The business has a fifty day moving average price of $108.88 and a 200 day moving average price of $110.69. United Airlines has a one year low of $84.64 and a one year high of $138.77. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $31.82 billion, a P/E ratio of 8.96, a P/E/G ratio of 1.19 and a beta of 1.30.

United Airlines (NASDAQ:UAL) last announced its earnings results on Tuesday, October 20th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.03). United Airlines had a return on equity of 17.59% and a net margin of 5.46%. The business had revenue of $17.88 billion for the quarter, compared to analyst estimates of $17.89 billion. During the same period last year, the firm earned $2.78 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts anticipate that United Airlines will post 7.17 EPS for the current fiscal year.

Insider Buying and Selling at United Airlines

In other news, EVP Andrew P. Nocella sold 5,000 shares of United Airlines stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $117.00, for a total transaction of $585,000.00. Following the transaction, the executive vice president owned 214,955 shares in the company, valued at $25,149,735. The trade was a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Brett Hart sold 30,108 shares of United Airlines stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $120.72, for a total value of $3,634,637.76. Following the transaction, the president owned 371,583 shares in the company, valued at approximately $44,857,499.76. This represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 42,308 shares of company stock valued at $5,122,554. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Airlines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA acquired a new stake in shares of United Airlines during the 2nd quarter worth about $2,238,617,000. Deutsche Bank AG acquired a new position in United Airlines in the second quarter valued at about $178,571,000. Bank of New York Mellon Corp acquired a new position in United Airlines in the second quarter valued at about $178,508,000. Bank of America Corp DE purchased a new position in United Airlines during the second quarter worth about $153,537,000. Finally, PointState Capital LP acquired a new stake in shares of United Airlines during the second quarter valued at about $120,968,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

United Airlines News Summary

Here are the key news stories impacting United Airlines this week:

• Positive Sentiment: Analysts remain constructive on UAL. Morgan Stanley reaffirmed its Buy rating, while TD Cowen maintained its Buy rating. Wells Fargo, Argus and Susquehanna also retain positive ratings, with price targets ranging from $125 to $155 despite recent reductions. Morgan Stanley Reaffirms Their Buy Rating on United Airlines Holdings
• Positive Sentiment: United’s premium-travel strategy, record third-quarter revenue and forecast for fourth-quarter revenue growth above 20% support the long-term case for higher margins and stronger earnings. United Airlines targets double-digit margins
• Positive Sentiment: Heavy trading in UAL call options indicates that some traders are positioning for a rebound, although options activity is not a guarantee of future performance. Stock Traders Purchase Large Volume of United Airlines Call Options
• Neutral Sentiment: United is opening what is described as the largest airport lounge in the Americas, potentially strengthening its premium brand and customer experience, but the near-term financial impact is unclear. United Airlines is opening the largest airport lounge in the Americas
• Negative Sentiment: Higher oil and jet-fuel prices are the main near-term concern. Airlines are favoring higher fares over fuller planes to protect profits, while United’s profit outlook was reportedly well below estimates because of fuel costs. US airlines favor higher fares over fuller planes as fuel costs squeeze profits
• Negative Sentiment: UAL is declining alongside American Airlines and Delta as the oil-price surge reverses the airline sector’s post-earnings relief rally. American Airlines Sinks as Oil Climb Reverses Post-Earnings Rebound
• Negative Sentiment: BMO Capital cut its UAL price target to $135 from $140, adding to concerns that analysts are moderating expectations even while maintaining a generally bullish stance. BMO Capital Adjusts Price Target on United Airlines

About United Airlines

United Airlines Holdings, Inc is the parent company of United Airlines, a major U.S. commercial airline headquartered in Chicago, Illinois. The company provides scheduled passenger air transportation and air cargo services, connecting customers across the United States and to international destinations.

United operates a broad network serving North America, Latin America, Europe, Asia, Africa and Oceania. Its operations are supported by hubs in major U.S. cities, including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, DC, as well as an extensive network of regional carriers operating under the United Express brand.

The company offers several travel classes and related services, including premium-cabin seating, onboard amenities, airport lounges and the MileagePlus customer loyalty program.