Raymond James Reiterates “Outperform” Rating for United Airlines (NASDAQ:UAL)

United Airlines (NASDAQ:UAL)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a report issued on Thursday,Benzinga reports. They presently have a $130.00 target price on the transportation company’s stock, up from their previous target price of $120.00. Raymond James’ target price would indicate a potential upside of 21.57% from the stock’s previous close.

A number of other brokerages have also recently commented on UAL. Bank of America raised 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. Sanford C. Bernstein increased their target price on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup increased their target price on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 target price on shares of United Airlines in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $107.08.

United Airlines Stock Down 1.0 %

NASDAQ:UAL opened at $106.94 on Thursday. The firm has a market cap of $35.17 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.80 and a beta of 1.44. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. United Airlines has a fifty-two week low of $37.02 and a fifty-two week high of $116.00. The firm has a 50-day simple moving average of $98.88 and a two-hundred day simple moving average of $70.51.

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

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

Insider Buying and Selling at United Airlines

In other news, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the transaction, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were 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 owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of United Airlines

A number of 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 United Airlines during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new position in United Airlines during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. acquired a new position in United Airlines during the 3rd quarter worth approximately $36,000. Winch Advisory Services LLC acquired a new position in shares of United Airlines in the 4th quarter valued at approximately $38,000. Finally, Blue Trust Inc. raised its position in shares of United Airlines by 108.6% in the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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.