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

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL - Get Free Report) gapped up prior to trading on Wednesday following a stronger than expected earnings report. 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.

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 32.26% and a net margin of 5.52%. The company had revenue of $13.21 billion for the quarter, compared to the consensus estimate of $13.47 billion.

Analysts Set New Price Targets

Several analysts have recently commented on UAL shares. Barclays lowered their price target on shares of United Airlines from $140.00 to $94.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI cut their price target on United Airlines from $145.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, April 11th. UBS Group increased their target price on United Airlines from $59.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday. Jefferies Financial Group lowered their price target on United Airlines from $154.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Susquehanna decreased their target price on shares of United Airlines from $90.00 to $81.00 and set a "positive" rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $101.95.

Institutional Investors Weigh In On United Airlines

Large investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its position in United Airlines by 57.2% in the 1st quarter. CENTRAL TRUST Co now owns 816 shares of the transportation company's stock valued at $56,000 after buying an additional 297 shares during the last quarter. Rakuten Securities Inc. grew its stake in United Airlines by 436.3% during the 1st quarter. Rakuten Securities Inc. now owns 6,409 shares of the transportation company's stock valued at $443,000 after purchasing an additional 5,214 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in United Airlines during the 1st quarter worth approximately $3,919,000. QRG Capital Management Inc. raised its position in shares of United Airlines by 32.7% in the 1st quarter. QRG Capital Management Inc. now owns 80,410 shares of the transportation company's stock valued at $5,552,000 after purchasing an additional 19,798 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of United Airlines during the 1st quarter valued at approximately $548,000. 69.69% of the stock is owned by institutional investors and hedge funds.

United Airlines Trading Down 1.0 %

The firm has a market cap of $21.70 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.67 and a beta of 1.19. The business's 50 day moving average is $79.13 and its 200-day moving average is $87.32. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 1.99.

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.