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

United Airlines Holdings, Inc. (NASDAQ:UAL)’s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at $90.38.

A number of other research firms also recently issued reports on UAL. The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. Bank of America lifted 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 lifted their price target on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Susquehanna lifted their price target on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Barclays lifted 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. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.28.

Insiders Place Their Bets

In other news, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. The trade was a 30.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $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.

Hedge Funds Weigh In On United Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its holdings in shares of United Airlines by 10.8% during the 3rd quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 129 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of United Airlines by 13.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock valued at $94,000 after buying an additional 189 shares during the last quarter. Wahed Invest LLC grew its position in shares of United Airlines by 13.7% during the 1st quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock valued at $76,000 after buying an additional 192 shares during the last quarter. Commerce Bank grew its position in shares of United Airlines by 1.1% during the 3rd quarter. Commerce Bank now owns 17,620 shares of the transportation company’s stock valued at $1,005,000 after buying an additional 196 shares during the last quarter. Finally, Cromwell Holdings LLC grew its position in United Airlines by 31.4% in the 3rd quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock worth $53,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Trading Up 4.3 %

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 stock has a market cap of $31.00 billion, a P/E ratio of 11.37, a PEG ratio of 1.08 and a beta of 1.39. The firm’s 50-day simple moving average is $68.70 and its 200 day simple moving average is $55.07.

United Airlines (NASDAQ:UAL) last issued 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 company had revenue of $14.84 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $3.65 EPS. As a group, equities research analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

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