United Airlines (NASDAQ:UAL – Get Free Report) had its price target upped by stock analysts at JPMorgan Chase & Co. from $108.00 to $133.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 24.17% from the company’s current price.
UAL has been the subject of a number of other reports. Sanford C. Bernstein raised their price objective on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Susquehanna increased their price objective on United Airlines from $85.00 to $120.00 and gave the company a “positive” rating in a research note on Tuesday. Dbs Bank raised United Airlines from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 26th. Barclays upped their target price on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 target price on shares of United Airlines in a report on Friday, November 15th. One 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, the company presently has a consensus rating of “Buy” and an average price target of $106.45.
Read Our Latest Research Report on United Airlines
United Airlines Stock Up 3.3 %
United Airlines (NASDAQ:UAL – Get Free Report) 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. The business had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the previous year, the company earned $3.65 earnings per share. As a group, sell-side analysts expect that United Airlines will post 10.27 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 buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at United Airlines
In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s 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 owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,000 shares of company stock valued at $8,158,900. Company insiders own 0.63% of the company’s stock.
Institutional Investors Weigh In On United Airlines
A number of large investors have recently added to or reduced their stakes in the company. Castle Hook Partners LP boosted its position 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. Point72 Asset Management L.P. boosted its holdings in United Airlines by 489.2% in the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after purchasing an additional 1,905,664 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in United Airlines by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock valued at $272,559,000 after purchasing an additional 1,263,604 shares during the last quarter. Rubric Capital Management LP acquired a new stake in United Airlines during the 3rd quarter valued at approximately $63,486,000. Finally, Sanders Capital LLC increased its holdings in United Airlines by 12.4% during the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after purchasing an additional 1,040,589 shares during the last quarter. 69.69% of the stock is 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.
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