United Airlines (NASDAQ:UAL) Sets New 12-Month High After Strong Earnings

United Airlines Holdings, Inc. (NASDAQ:UAL) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $116.72 and last traded at $114.24, with a volume of 188814 shares traded. The stock had previously closed at $110.52.

The transportation company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.30. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The company had revenue of $14.70 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year.

United Airlines declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on UAL shares. TD Cowen boosted their price objective on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group reissued a “buy” rating and set a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. Bank of America raised their price target on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. UBS Group upped their price objective on United Airlines from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Susquehanna boosted their price objective on shares of United Airlines from $85.00 to $120.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $106.45.

Insider Buying and Selling at United Airlines

In other United Airlines news, EVP Linda P. Jojo sold 60,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 63,599 shares in the company, valued at $6,049,536.88. This 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 this link. Also, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly 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 company insiders.

Hedge Funds Weigh In On United Airlines

A number of large investors have recently made changes to their positions in UAL. Moody National Bank Trust Division grew its stake in shares of United Airlines by 2.1% in the fourth quarter. Moody National Bank Trust Division now owns 4,840 shares of the transportation company’s stock worth $470,000 after acquiring an additional 98 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in United Airlines by 2.2% during the 4th quarter. Diversify Advisory Services LLC now owns 4,739 shares of the transportation company’s stock valued at $508,000 after purchasing an additional 101 shares during the last quarter. Huntington National Bank boosted its stake in United Airlines by 10.8% in the third quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock worth $75,000 after purchasing an additional 129 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of United Airlines by 25.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the transportation company’s stock worth $69,000 after acquiring an additional 142 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in United Airlines by 13.0% in the third quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Up 2.8 %

The business’s fifty day simple moving average is $98.51 and its 200 day simple moving average is $70.24. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44.

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.