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

United Airlines (NASDAQ:UAL) had its price objective upped by equities research analysts at Citigroup from $98.00 to $122.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price target would indicate a potential upside of 22.76% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 price target on shares of United Airlines in a report on Friday, November 15th. TD Cowen upped their target price on United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein raised their price target on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their target price on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Bank of America boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, United Airlines currently has an average rating of “Moderate Buy” and a consensus target price of $96.15.

United Airlines Stock Performance

Shares of United Airlines stock traded up $2.55 on Tuesday, hitting $99.38. The stock had a trading volume of 2,431,543 shares, compared to its average volume of 8,383,045. United Airlines has a twelve month low of $37.02 and a twelve month high of $101.60. 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 stock has a market cap of $32.68 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39. The business’s 50 day moving average is $72.33 and its two-hundred day moving average is $56.26.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $3.65 earnings per share. Analysts forecast that United Airlines will post 10.23 EPS for the current year.

United Airlines declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

Insider Activity at United Airlines

In other United Airlines news, 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 transaction of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the transaction, 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 disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Airlines

Institutional investors have recently bought and sold shares of the company. Castle Hook Partners LP boosted its position in shares of United Airlines by 176.1% during the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock worth $242,227,000 after purchasing an additional 2,707,442 shares during the period. Point72 Asset Management L.P. boosted its holdings in United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after acquiring an additional 1,905,664 shares during the period. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 1,263,604 shares in the last quarter. Rubric Capital Management LP purchased a new stake in United Airlines during the third quarter worth about $63,486,000. Finally, Sanders Capital LLC lifted its position in shares of United Airlines by 12.4% during the third 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 in the last quarter. 69.69% of the stock is owned by hedge funds and other 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.