Raymond James Issues Positive Forecast for United Airlines (NASDAQ:UAL) Stock Price

United Airlines (NASDAQ:UAL) had its target price lifted by Raymond James from $90.00 to $120.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

UAL has been the subject of a number of other reports. Melius Research raised shares of United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America increased their target price on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Susquehanna increased their price objective on United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their price target on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, 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. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, United Airlines has a consensus rating of “Buy” and a consensus price target of $102.28.

United Airlines Stock Performance

UAL opened at $98.21 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The business’s 50-day simple moving average is $91.26 and its 200 day simple moving average is $64.12. The firm has a market capitalization of $32.30 billion, a PE ratio of 11.85, a PEG ratio of 1.12 and a beta of 1.44. United Airlines has a 52-week low of $37.02 and a 52-week high of $105.09.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion for 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 firm posted $3.65 earnings per share. As a group, sell-side analysts expect that United Airlines will post 10.27 earnings per share for the current fiscal year.

United Airlines announced that its board has authorized a stock buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Linda P. Jojo sold 60,000 shares of United Airlines 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 of the company’s stock, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the business’s 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 directly owns 40,012 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 92,000 shares of company stock worth $8,158,900. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On United Airlines

Several large investors have recently bought and sold shares of UAL. Global Trust Asset Management LLC bought a new position in shares of United Airlines during the third quarter valued at about $29,000. Strategic Investment Solutions Inc. IL bought a new position in United Airlines during the second quarter valued at about $30,000. Armstrong Advisory Group Inc. bought a new stake in United Airlines in the third quarter worth about $36,000. Quest Partners LLC grew its position in shares of United Airlines by 3,504.8% during the 2nd quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 736 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of United Airlines in the 2nd quarter worth approximately $39,000. 69.69% of the stock is currently owned by institutional investors.

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.