United Airlines (NASDAQ:UAL) Shares Gap Up After Earnings Beat

United Airlines Holdings, Inc. (NASDAQ:UAL)’s stock price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $67.00, but opened at $69.64. United Airlines shares last traded at $67.61, with a volume of 7,137,997 shares changing hands.

The transportation company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. The company had revenue of $13.21 billion during the quarter, compared to analyst estimates of $13.47 billion. United Airlines had a return on equity of 32.26% and a net margin of 5.52%.

Analyst Ratings Changes

UAL has been the topic of a number of recent research reports. Evercore ISI cut their target price on United Airlines from $145.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Barclays decreased their target price on shares of United Airlines from $140.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Susquehanna cut their price target on United Airlines from $130.00 to $90.00 and set a “positive” rating on the stock in a report on Monday, April 7th. Finally, Jefferies Financial Group reduced their price objective on United Airlines from $154.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.01.

Institutional Trading of United Airlines

A number of hedge funds and other institutional investors have recently made changes to their positions in UAL. Sanders Capital LLC grew its holdings in shares of United Airlines by 46.4% in the 4th quarter. Sanders Capital LLC now owns 13,848,308 shares of the transportation company’s stock worth $1,344,671,000 after acquiring an additional 4,390,721 shares during the last quarter. Boston Partners purchased a new position in United Airlines in the 4th quarter worth about $323,508,000. FMR LLC raised its holdings in United Airlines by 70.9% during the 4th quarter. FMR LLC now owns 7,268,775 shares of the transportation company’s stock worth $705,798,000 after buying an additional 3,015,979 shares during the period. Senator Investment Group LP lifted its stake in United Airlines by 214.8% during the fourth quarter. Senator Investment Group LP now owns 3,261,051 shares of the transportation company’s stock valued at $316,648,000 after buying an additional 2,225,000 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of United Airlines by 22.4% in the fourth quarter. Capital World Investors now owns 9,788,405 shares of the transportation company’s stock worth $950,461,000 after buying an additional 1,791,654 shares during the period. 69.69% of the stock is currently owned by institutional investors.

United Airlines Stock Performance

The firm’s 50-day moving average price is $81.51 and its two-hundred day moving average price is $87.33. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $22.64 billion, a PE ratio of 7.35, a P/E/G ratio of 0.67 and a beta of 1.19.

United Airlines Company Profile

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.