Bank of America Cuts United Airlines (NASDAQ:UAL) Price Target to $100.00

United Airlines (NASDAQ:UAL) had its target price lowered by Bank of America from $110.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 40.11% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley lifted their target price on shares of United Airlines from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their target price on United Airlines from $154.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen lifted their price target on United Airlines from $142.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, UBS Group reduced their price objective on United Airlines from $140.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.08.

United Airlines Price Performance

Shares of NASDAQ UAL opened at $71.37 on Thursday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.74 and a current ratio of 0.81. The firm’s 50-day simple moving average is $91.18 and its 200 day simple moving average is $86.87. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.67 and a beta of 1.41. United Airlines has a fifty-two week low of $37.02 and a fifty-two week high of $116.00.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.30. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The company had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the company earned $2.00 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that United Airlines will post 12.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Airlines

Several hedge funds have recently made changes to their positions in the stock. Bank of Jackson Hole Trust bought a new position in United Airlines in the 4th quarter worth about $25,000. Hemington Wealth Management lifted its holdings in shares of United Airlines by 70.8% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the transportation company’s stock worth $30,000 after buying an additional 131 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of United Airlines in the fourth quarter valued at approximately $31,000. Whipplewood Advisors LLC purchased a new position in United Airlines during the fourth quarter valued at approximately $32,000. Finally, Roxbury Financial LLC bought a new stake in United Airlines during the 4th quarter worth approximately $32,000. 69.69% of the stock is currently 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.