United Airlines (NASDAQ:UAL) Hits New 1-Year High After Analyst Upgrade

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL) hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $108.00 to $133.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. United Airlines traded as high as $110.33 and last traded at $108.78, with a volume of 2935376 shares changing hands. The stock had previously closed at $103.72.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein upped their price target on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Bank of America upped their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Finally, Jefferies Financial Group upped their target price 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. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, United Airlines presently has a consensus rating of “Buy” and an average target price of $106.45.

Insiders Place Their Bets

In related news, EVP Linda P. Jojo sold 60,000 shares of United Airlines stock in a transaction dated 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 sale, the executive vice president now directly owns 63,599 shares in the company, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, 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 have sold a total of 92,000 shares of company stock valued at $8,158,900 in the last quarter. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Huntington National Bank increased its position 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 purchasing an additional 129 shares during the period. Farther Finance Advisors LLC raised its position in United Airlines by 13.0% in the third quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after acquiring an additional 189 shares in the last quarter. Commerce Bank boosted 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 purchasing an additional 196 shares in the last quarter. Cromwell Holdings LLC grew its stake in shares of 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. Finally, Wahed Invest LLC raised its holdings in shares of United Airlines by 12.6% in the 3rd quarter. Wahed Invest LLC now owns 1,998 shares of the transportation company’s stock worth $114,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Trading Up 3.3 %

The firm has a market capitalization of $35.23 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.44. 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’s 50 day moving average is $95.47 and its 200 day moving average is $67.08.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The business had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the firm posted $3.65 EPS. Equities analysts forecast that United Airlines Holdings, Inc. will post 10.27 earnings per share for the current year.

United Airlines declared that its board has approved a share repurchase program on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is 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.