United Airlines (NASDAQ:UAL) Sets New 12-Month High Following Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL) reached a new 52-week high during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $100.00 to $125.00. TD Cowen currently has a buy rating on the stock. United Airlines traded as high as $94.47 and last traded at $93.86, with a volume of 2635453 shares traded. The stock had previously closed at $90.38.

A number of other research firms have also commented on UAL. Bank of America boosted their price target on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein boosted their price target on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price target on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their price objective on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $119.00 price objective on shares of United Airlines in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, United Airlines presently has a consensus rating of “Moderate Buy” and an average price target of $88.28.

Insider Activity at United Airlines

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UAL. Global Trust Asset Management LLC purchased a new stake in shares of United Airlines during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of United Airlines during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. purchased a new stake in shares of United Airlines during the 3rd quarter worth approximately $36,000. Crewe Advisors LLC bought a new position in shares of United Airlines during the 1st quarter valued at approximately $32,000. Finally, UMB Bank n.a. increased its position in shares of United Airlines by 59.7% during the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 255 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

United Airlines Trading Up 4.3 %

The stock has a market cap of $31.00 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.08 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The company has a 50-day moving average price of $68.70 and a two-hundred day moving average price of $55.07.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the prior year, the company posted $3.65 EPS. On average, research analysts expect that United Airlines Holdings, Inc. will post 10.23 EPS for the current fiscal year.

United Airlines announced that its Board of Directors has authorized a share repurchase program on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.