United Airlines’ (UAL) Buy Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of United Airlines (NASDAQ:UAL) in a research note released on Friday, Marketbeat Ratings reports. The Goldman Sachs Group currently has a $119.00 target price on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Susquehanna boosted their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, TD Cowen boosted their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.61.

United Airlines Trading Down 0.9 %

Shares of UAL stock opened at $90.38 on Friday. United Airlines has a 12-month low of $37.02 and a 12-month high of $93.33. The company has a market capitalization of $29.72 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.08 and a beta of 1.39. The firm has a 50-day moving average price of $67.78 and a 200 day moving average price of $54.77. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period in the previous year, the firm posted $3.65 earnings per share. Research analysts forecast that United Airlines will post 10.23 earnings per share for the current fiscal year.

United Airlines declared that its board has approved a stock buyback plan on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now directly owns 30,427 shares in the company, valued at $2,190,744. This represents a 32.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the sale, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On United Airlines

A number of hedge funds have recently made changes to their positions in the stock. Castle Hook Partners LP raised its holdings in United Airlines by 176.1% in the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after buying an additional 2,707,442 shares during the last quarter. Interval Partners LP acquired a new stake in shares of United Airlines during the 1st quarter worth approximately $103,354,000. Point72 Asset Management L.P. grew its position in shares of United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after buying an additional 1,905,664 shares during the period. Dimensional Fund Advisors LP grew its position in shares of United Airlines by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after buying an additional 1,263,604 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in shares of United Airlines during the 3rd quarter worth approximately $63,486,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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.