United Airlines (NASDAQ:UAL) Hits New 52-Week High – Still a Buy?

United Airlines Holdings, Inc. (NASDAQ:UAL) reached a new 52-week high on Wednesday . The stock traded as high as $90.19 and last traded at $90.19, with a volume of 653740 shares trading hands. The stock had previously closed at $89.13.

Analyst Upgrades and Downgrades

UAL has been the subject of several research reports. Morgan Stanley increased their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Bank of America raised their price target on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein raised 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 raised 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. Finally, TD Cowen raised their price target on shares of United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, United Airlines currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.30.

United Airlines Trading Up 1.5 %

The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The firm has a market cap of $29.98 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. The business’s fifty day moving average is $65.12 and its two-hundred day moving average is $53.93.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the business earned $3.65 EPS. Equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Transactions at United Airlines

In other United Airlines news, 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 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. The trade was a 32.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 in the company, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital International Investors grew its stake in United Airlines by 2.4% in the 1st quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock valued at $885,912,000 after buying an additional 429,501 shares during the last quarter. Sanders Capital LLC grew its stake in United Airlines by 12.4% in the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock valued at $539,650,000 after buying an additional 1,040,589 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in United Airlines by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after buying an additional 1,263,604 shares during the last quarter. Castle Hook Partners LP grew its stake in United Airlines by 176.1% in the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after buying an additional 2,707,442 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in United Airlines by 41.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock valued at $177,604,000 after buying an additional 908,558 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.

United Airlines Company Profile

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.