Morgan Stanley Boosts United Airlines (NASDAQ:UAL) Price Target to $140.00

United Airlines (NASDAQ:UAL) had its price target upped by equities research analysts at Morgan Stanley from $130.00 to $140.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s target price points to a potential upside of 33.33% from the company’s previous close.

Several other analysts have also commented on UAL. Bank of America increased 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 raised their target price on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on United Airlines from $108.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Raymond James reissued an “outperform” rating and issued a $130.00 price objective (up previously from $120.00) on shares of United Airlines in a research report on Thursday. Finally, Melius Research raised United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. One equities research 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 stock. Based on data from MarketBeat, United Airlines presently has a consensus rating of “Buy” and an average target price of $110.20.

United Airlines Price Performance

Shares of UAL stock opened at $105.00 on Thursday. The company has a market capitalization of $34.53 billion, a P/E ratio of 11.13, a P/E/G ratio of 0.77 and a beta of 1.44. The company’s 50-day simple moving average is $99.11 and its two-hundred day simple moving average is $70.73. United Airlines has a one year low of $37.02 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.81 and a quick ratio of 0.72.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, January 21st. The transportation company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.30. The business had revenue of $14.70 billion during the quarter, compared to analysts’ expectations of $14.40 billion. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The business’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 business earned $2.00 EPS. As a group, equities analysts anticipate that United Airlines will post 12.7 EPS for the current year.

United Airlines announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the transaction, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. This represents a 48.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the firm’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of United Airlines

Institutional investors have recently added to or reduced their stakes in the stock. abrdn plc increased its stake in United Airlines by 4.6% during the fourth quarter. abrdn plc now owns 57,694 shares of the transportation company’s stock worth $5,585,000 after purchasing an additional 2,528 shares during the period. One Wealth Advisors LLC purchased a new stake in United Airlines during the 4th quarter worth approximately $203,000. Leisure Capital Management acquired a new stake in United Airlines during the 4th quarter worth approximately $224,000. FSM Wealth Advisors LLC acquired a new stake in United Airlines during the 4th quarter worth approximately $210,000. Finally, Pacific Sage Partners LLC purchased a new position in United Airlines in the 4th quarter valued at approximately $297,000. Institutional investors and hedge funds 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.