United Airlines (NASDAQ:UAL) Sets New 12-Month High - Here's What Happened

Shares of United Airlines Holdings, Inc. (NASDAQ:UAL - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $76.61 and last traded at $76.61, with a volume of 179839 shares traded. The stock had previously closed at $74.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of United Airlines from $80.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted 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. Susquehanna increased their price target on United Airlines from $70.00 to $85.00 and gave the stock a "positive" rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on United Airlines from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, TD Cowen increased their target price on shares of United Airlines from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.94.

United Airlines Stock Performance

The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The stock has a market cap of $25.02 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. The firm has a fifty day moving average price of $54.68 and a 200 day moving average price of $50.84.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data 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 for 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 in the prior year, the company posted $3.65 earnings per share. Research analysts forecast that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current fiscal year.

United Airlines announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares in the company, valued at $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UAL. BNP Paribas purchased a new position in shares of United Airlines during the 1st quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new position in United Airlines in the first quarter valued at $27,000. Global Trust Asset Management LLC purchased a new position in United Airlines in the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of United Airlines in the second quarter worth about $30,000. Finally, Crewe Advisors LLC purchased a new stake in shares of United Airlines during the 1st quarter worth about $32,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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.