United Airlines (NASDAQ:UAL) Reaches New 12-Month Low on Analyst Downgrade

Posted by Defense World Staff on Oct 20th, 2023

United Airlines Holdings, Inc. (NASDAQ:UAL – Get Free Report) reached a new 52-week low on Thursday after Susquehanna lowered their price target on the stock from $44.00 to $40.00. Susquehanna currently has a neutral rating on the stock. United Airlines traded as low as $36.08 and last traded at $36.79, with a volume of 2582652 shares trading hands. The stock had previously closed at $36.24.

A number of other equities research analysts also recently weighed in on UAL. Citigroup dropped their price target on shares of United Airlines from $76.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday. TheStreet upgraded shares of United Airlines from a “c” rating to a “b-” rating in a research report on Wednesday, July 19th. StockNews.com assumed coverage on shares of United Airlines in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on shares of United Airlines from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, October 2nd. Finally, Raymond James decreased their price objective on shares of United Airlines from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.88.

Read Our Latest Research Report on UAL

Insiders Place Their Bets

In other news, CFO Gerald Laderman sold 4,491 shares of United Airlines stock in a transaction on Monday, July 24th. The shares were sold at an average price of $57.05, for a total transaction of $256,211.55. Following the transaction, the chief financial officer now owns 133,213 shares in the company, valued at $7,599,801.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On United Airlines

A number of hedge funds have recently modified their holdings of UAL. Bartlett & Co. LLC lifted its holdings in shares of United Airlines by 200.0% during the third quarter. Bartlett & Co. LLC now owns 600 shares of the transportation company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in United Airlines by 99.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 611 shares of the transportation company’s stock valued at $27,000 after buying an additional 305 shares during the period. Solstein Capital LLC acquired a new position in United Airlines in the second quarter valued at $27,000. Nemes Rush Group LLC acquired a new position in United Airlines in the second quarter valued at $27,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in United Airlines in the second quarter valued at $27,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

United Airlines Trading Down 0.6 %

The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 4.18, a price-to-earnings-growth ratio of 0.08 and a beta of 1.44. The company has a debt-to-equity ratio of 3.49, a current ratio of 0.91 and a quick ratio of 0.86. The firm’s fifty day moving average is $45.35 and its 200-day moving average is $48.74.

United Airlines (NASDAQ:UAL – Get Free Report) last released its earnings results on Wednesday, October 18th. The transportation company reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.27. The business had revenue of $14.50 billion for the quarter, compared to analyst estimates of $14.43 billion. United Airlines had a net margin of 5.45% and a return on equity of 49.14%. United Airlines’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.81 earnings per share. Equities analysts anticipate that United Airlines Holdings, Inc. will post 10.03 earnings per share for the current year.

United Airlines Company Profile

(Get Free Report)

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, training, and maintenance services for third parties.