United Airlines (NASDAQ:UAL) Shares Gap Up - Here's Why

United Airlines Holdings Inc (NASDAQ:UAL - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $80.18, but opened at $87.33. United Airlines shares last traded at $89.59, with a volume of 5,271,477 shares trading hands.

Wall Street Analysts Forecast Growth

UAL has been the topic of a number of recent research reports. Susquehanna cut their target price on United Airlines from $90.00 to $81.00 and set a "positive" rating on the stock in a research note on Thursday, April 17th. Jefferies Financial Group lowered their price target on United Airlines from $154.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Evercore ISI lowered their price target on United Airlines from $145.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. TD Cowen upped their price target on United Airlines from $73.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, Wall Street Zen downgraded United Airlines from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 7th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $104.50.

United Airlines Stock Performance

The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.72 and a current ratio of 0.78. The firm's 50 day simple moving average is $78.51 and its 200-day simple moving average is $84.46. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 1.33 and a beta of 1.42.

United Airlines (NASDAQ:UAL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The transportation company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.34% and a return on equity of 32.90%. On average, sell-side analysts predict that United Airlines Holdings Inc will post 12.96 EPS for the current year.

Hedge Funds Weigh In On United Airlines

A number of hedge funds have recently modified their holdings of the business. Wahed Invest LLC grew its holdings in United Airlines by 5.4% in the 4th quarter. Wahed Invest LLC now owns 2,106 shares of the transportation company's stock valued at $204,000 after buying an additional 108 shares during the period. EverSource Wealth Advisors LLC grew its holdings in United Airlines by 3.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,702 shares of the transportation company's stock valued at $359,000 after buying an additional 135 shares during the period. Wedbush Securities Inc. grew its holdings in United Airlines by 3.3% in the 1st quarter. Wedbush Securities Inc. now owns 4,651 shares of the transportation company's stock valued at $321,000 after buying an additional 147 shares during the period. Forum Financial Management LP grew its holdings in United Airlines by 2.7% in the 4th quarter. Forum Financial Management LP now owns 5,723 shares of the transportation company's stock valued at $556,000 after buying an additional 148 shares during the period. Finally, Principal Securities Inc. grew its holdings in United Airlines by 2.0% in the 1st quarter. Principal Securities Inc. now owns 7,758 shares of the transportation company's stock valued at $536,000 after buying an additional 149 shares during the period. 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.