United Airlines (NASDAQ:UAL) Hits New 12-Month High After Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL) shares hit a new 52-week high during mid-day trading 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.

Several other brokerages have also recently issued reports on UAL. Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a research report on Monday, December 2nd. TD Cowen raised their price objective on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group lifted their target price on United Airlines from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays increased their price target on United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $106.45.

Insider Activity at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the transaction, the executive vice president now directly owns 40,012 shares in the company, valued at $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the 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 sale, the executive vice president now directly owns 30,427 shares in the company, 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. Insiders have sold 92,000 shares of company stock valued at $8,158,900 in the last ninety days. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of United Airlines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UAL. Global Trust Asset Management LLC acquired a new position in shares of United Airlines during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in United Airlines in the 2nd quarter worth $30,000. Armstrong Advisory Group Inc. acquired a new position in United Airlines during the third quarter worth $36,000. Quest Partners LLC lifted its holdings in United Airlines by 3,504.8% during the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 736 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of United Airlines by 108.6% in the third quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 392 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Up 5.1 %

The firm has a market cap of $35.85 billion, a PE ratio of 13.15, a PEG ratio of 1.12 and a beta of 1.44. The business’s 50 day moving average price is $94.93 and its 200 day moving average price is $66.68. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

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

United Airlines declared that its board has authorized a share repurchase program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management 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.