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

Shares of United Airlines Holdings Inc (NASDAQ:UAL - Get Free Report) 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 traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group decreased their target price on United Airlines from $105.00 to $103.00 and set a "buy" rating for the company in a research report on Monday. Susquehanna decreased their price objective on United Airlines from $90.00 to $81.00 and set a "positive" rating for the company in a report on Thursday, April 17th. Cowen reiterated a "buy" rating on shares of United Airlines in a report on Tuesday, April 22nd. Raymond James Financial downgraded shares of United Airlines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Wall Street Zen lowered shares of United Airlines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 7th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, United Airlines has an average rating of "Buy" and an average price target of $104.50.

United Airlines Stock Up 14.3%

The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.93. The company has a 50 day simple moving average of $78.06 and a two-hundred day simple moving average of $84.51. The firm has a market capitalization of $29.94 billion, a P/E ratio of 8.36, a P/E/G ratio of 1.33 and a beta of 1.42.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its earnings results on Tuesday, April 15th. The transportation company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. United Airlines had a return on equity of 32.90% and a net margin of 6.34%. The company had revenue of $13.21 billion for the quarter, compared to the consensus estimate of $13.47 billion. On average, equities analysts predict that United Airlines Holdings Inc will post 12.96 EPS for the current fiscal year.

Institutional Trading of United Airlines

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital A Wealth Management LLC purchased a new stake in shares of United Airlines in the 4th quarter worth approximately $31,000. Hemington Wealth Management lifted its holdings in United Airlines by 50.6% during the first quarter. Hemington Wealth Management now owns 476 shares of the transportation company's stock worth $32,000 after buying an additional 160 shares during the period. WPG Advisers LLC purchased a new stake in United Airlines during the first quarter worth $32,000. Eastern Bank bought a new stake in United Airlines during the 1st quarter valued at $35,000. Finally, Banque Transatlantique SA purchased a new position in shares of United Airlines in the 1st quarter valued at $35,000. Institutional investors own 69.69% of the company's stock.

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.