United Airlines (NASDAQ:UAL) Trading Down 3.8% After Analyst Downgrade

United Airlines Holdings, Inc. (NASDAQ:UAL – Get Rating) fell 3.8% during mid-day trading on Thursday after Raymond James lowered their price target on the stock from $62.00 to $48.00. The company traded as low as $35.28 and last traded at $35.33. 98,999 shares were traded during mid-day trading, a decline of 99% from the average session volume of 11,454,350 shares. The stock had previously closed at $36.72.

Several other research firms have also issued reports on UAL. JPMorgan Chase & Co. upgraded shares of United Airlines from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $76.00 in a report on Friday, April 22nd. UBS Group cut United Airlines from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, April 18th. Wolfe Research raised United Airlines from an “underperform” rating to a “peer perform” rating in a research note on Friday, May 6th. Exane BNP Paribas raised United Airlines from an “underperform” rating to a “neutral” rating in a research note on Friday, March 18th. Finally, Citigroup upped their target price on United Airlines from $58.00 to $71.00 in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.07.

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In other news, COO Jonathan Roitman sold 13,939 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $36.85, for a total transaction of $513,652.15. Following the completion of the transaction, the chief operating officer now directly owns 13,938 shares of the company’s stock, valued at approximately $513,615.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Chris Kenny sold 9,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $47.88, for a total value of $464,436.00. Following the transaction, the vice president now directly owns 19,605 shares of the company’s stock, valued at $938,687.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,539 shares of company stock worth $1,434,925 over the last ninety days. 0.37% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of UAL. Capital International Investors acquired a new position in United Airlines in the 1st quarter valued at $351,299,000. Bank of Montreal Can grew its holdings in United Airlines by 817.5% in the 4th quarter. Bank of Montreal Can now owns 3,921,981 shares of the transportation company’s stock valued at $173,077,000 after buying an additional 3,494,508 shares in the last quarter. Altimeter Capital Management LP purchased a new position in shares of United Airlines during the 1st quarter worth $115,175,000. Neuberger Berman Group LLC grew its holdings in shares of United Airlines by 35.7% during the 1st quarter. Neuberger Berman Group LLC now owns 5,505,255 shares of the transportation company’s stock worth $255,183,000 after purchasing an additional 1,448,947 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in shares of United Airlines by 1,248.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 1,474,058 shares of the transportation company’s stock worth $68,337,000 after purchasing an additional 1,364,768 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 8.24. The business has a fifty day moving average price of $44.75 and a two-hundred day moving average price of $43.92.

United Airlines (NASDAQ:UAL – Get Rating) last announced its earnings results on Wednesday, April 20th. The transportation company reported ($4.24) EPS for the quarter, missing analysts’ consensus estimates of ($4.19) by ($0.05). The firm had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.68 billion. United Airlines had a negative net margin of 6.85% and a negative return on equity of 73.54%. The business’s revenue was up 134.9% compared to the same quarter last year. During the same quarter last year, the business earned ($7.50) earnings per share. As a group, research analysts predict that United Airlines Holdings, Inc. will post 0.15 earnings per share for the current year.

About United Airlines (NASDAQ:UAL)

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.

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