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

United Airlines (NASDAQ:UAL) had its price objective lifted by research analysts at Morgan Stanley from $130.00 to $140.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 33.03% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Barclays increased their price target on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Bank of America lifted their target price on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Raymond James restated an “outperform” rating and set a $130.00 price target (up from $120.00) on shares of United Airlines in a research report on Thursday. Melius Research upgraded United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. Finally, UBS Group raised their price target on United Airlines from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, United Airlines currently has an average rating of “Buy” and a consensus target price of $107.70.

United Airlines Price Performance

Shares of United Airlines stock traded down $2.73 during trading on Thursday, hitting $105.24. The stock had a trading volume of 4,231,631 shares, compared to its average volume of 7,025,143. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. United Airlines has a 12 month low of $37.02 and a 12 month high of $116.00. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.80 and a beta of 1.44. The business’s 50-day moving average is $98.88 and its 200 day moving average is $70.51.

United Airlines (NASDAQ:UAL) last released its earnings results on Tuesday, January 21st. The transportation company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.30. United Airlines had a return on equity of 34.03% and a net margin of 5.52%. The business had revenue of $14.70 billion for the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that United Airlines will post 12.56 earnings per share for the current year.

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

Insider Activity at United Airlines

In related news, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total transaction of $5,707,200.00. Following the completion of the sale, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,218,565.28. The trade was a 30.43 % 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 corporate insiders.

Institutional Investors Weigh In On United Airlines

A number of hedge funds have recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new stake in United Airlines in the third quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new position in United Airlines during the second quarter valued at $30,000. Armstrong Advisory Group Inc. bought a new position in shares of United Airlines in the 3rd quarter valued at about $36,000. Winch Advisory Services LLC purchased a new stake in United Airlines during the fourth quarter valued at approximately $38,000. Finally, Blue Trust Inc. raised its holdings in United Airlines by 108.6% during the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock valued at $43,000 after buying an additional 392 shares during the period. Institutional investors own 69.69% of the company’s stock.

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.