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

United Airlines Holdings, Inc. (NASDAQ:UAL) shares gapped up prior to trading 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. The firm had revenue of $13.21 billion for 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%.

Analysts Set New Price Targets

Several equities research analysts recently commented on UAL shares. TD Cowen boosted their price target on United Airlines from $142.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Bank of America decreased their price target on shares of United Airlines from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Susquehanna cut their price target on United Airlines from $130.00 to $90.00 and set a “positive” rating for the company in a report on Monday, April 7th. Jefferies Financial Group lowered their price target on shares of United Airlines from $154.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, Evercore ISI lowered their price objective 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. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.01.

Institutional Trading of United Airlines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust bought a new position in United Airlines during the fourth quarter valued at about $25,000. Hemington Wealth Management lifted its position in shares of United Airlines by 70.8% during the fourth quarter. Hemington Wealth Management now owns 316 shares of the transportation company’s stock worth $30,000 after acquiring an additional 131 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in United Airlines during the 4th quarter worth about $31,000. Roxbury Financial LLC purchased a new stake in shares of United Airlines in the fourth quarter worth about $32,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of United Airlines during the 4th quarter valued at $32,000. 69.69% of the stock is owned by institutional investors.

United Airlines Price Performance

The business has a 50 day simple moving average of $80.67 and a two-hundred day simple moving average of $87.19. 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 has a market capitalization of $21.93 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.19.

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.