The stock had a trading volume of 3,845,065 shares.
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In a statement, Republic Airways said “the parties are preparing the document for publication, at which point Local 357 will distribute copies of the tentative agreement to its members”.
Republic climbed to $5.29 at the close in New York, the biggest intraday increase since the company’s initial public offering in May 2004. He added that Teamsters professionals “deserve pay, job security, benefits and work rules that match their leadership position in our industry”.
The Indianapolis company said the three-year deal covered 2,100 pilots represented by the worldwide Brotherhood of Teamsters.
For a complete fundamental analysis analysis of Republic Airways Holdings Inc., check out Equities.com’s Stock Valuation Analysis report for RJET.
Over the last 6 months, Republic Airways NASDAQ:RJET has seen 0 unique insider buys, and 11 insider selling transactions.
The company has a market capitalization of $269.39 million and a price-to-earnings ratio of 6.60. During last 3 month period, -0.15% of total institutional ownership has changed in the company shares.
However, the agreement with Teamsters has solved part of the pilot-shortage problem. Republic Airways Holdings presently has an average rating of “Hold” and an average target price of $9.93. Our stocks momentum model is shown on the price chart below. Virgin Media Finance Plc, which was bought by billionaire John Malone’s Liberty Global in 2013, saw its 460 million euros ($515 million) of January 2025 bonds fall 2.9 cents to 92.8 cents on the euro, the lowest since they were issued earlier this year, according to data compiled by Bloomberg.
The Street’s analysts, polled by Bloomberg, seem to agree with Mr. Linenberg’s bullish sentiment. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. They now have $8.00 price objective on the stock, up from their prior price objective of $5.00.
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Details of the new agreement were not outlined in Republic’s announcement on Monday. However, it is prudent to wait till the agreement goes through a vote in October, before we pin our hopes on it. In the event that agreement is not accepted, it could completely erase the gains the stock has made since Monday.
