Morgan Stanley Forecasts Strong Price Appreciation for United Airlines (NASDAQ:UAL) Stock

United Airlines (NASDAQ:UAL) had its price objective lifted by research analysts at Morgan Stanley from $130.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective suggests a potential upside of 33.03% from the stock’s current price.

UAL has been the topic of a number of other reports. Sanford C. Bernstein lifted their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays increased their price target on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Raymond James reiterated an “outperform” rating and set a $130.00 price objective (up previously from $120.00) on shares of United Airlines in a research note on Thursday. Melius Research raised shares of United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. Finally, TD Cowen increased their price objective on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $107.70.

United Airlines Trading Down 2.5 %

NASDAQ:UAL traded down $2.73 during midday trading on Thursday, hitting $105.24. The stock had a trading volume of 4,231,631 shares, compared to its average volume of 7,025,143. United Airlines has a one year low of $37.02 and a one year high of $116.00. The company has a market capitalization of $34.61 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.80 and a beta of 1.44. The stock has a 50-day moving average of $98.88 and a 200 day moving average of $70.51. 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 released its quarterly earnings data on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.30. The company had revenue of $14.70 billion during the quarter, compared to analyst estimates of $14.40 billion. United Airlines had a net margin of 5.52% and a return on equity of 34.03%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. As a group, sell-side analysts forecast that United Airlines will post 12.56 EPS for the current year.

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

Insider Transactions at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the transaction, the executive vice president now owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Linda P. Jojo sold 60,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the sale, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Trading of United Airlines

Large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of United Airlines by 0.8% in the 3rd quarter. State Street Corp now owns 10,320,253 shares of the transportation company’s stock valued at $588,874,000 after buying an additional 78,470 shares during the period. Sanders Capital LLC grew its holdings in United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after acquiring an additional 1,040,589 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of United Airlines by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,311,220 shares of the transportation company’s stock valued at $477,526,000 after purchasing an additional 168,498 shares in the last quarter. Castle Hook Partners LP lifted its position in shares of United Airlines by 176.1% during the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after purchasing an additional 908,558 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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.