United Airlines (NASDAQ:UAL) Hits New 1-Year High After Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $100.00 to $125.00. TD Cowen currently has a buy rating on the stock. United Airlines traded as high as $94.47 and last traded at $93.86, with a volume of 2635453 shares trading hands. The stock had previously closed at $90.38.

Several other brokerages have also recently commented on UAL. Jefferies Financial Group upped their price target on United Airlines from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, October 21st. 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 note on Thursday, October 17th. Bank of America increased their target price on United Airlines from $70.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. The Goldman Sachs Group reissued a "buy" rating and issued a $119.00 target price on shares of United Airlines in a research note on Friday. Finally, Morgan Stanley increased their target price on United Airlines from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.28.

Insider Buying and Selling at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 30,427 shares of the company's stock, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kate Gebo sold 17,500 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,012 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.63% of the company's stock.

Institutional Trading of United Airlines

Several hedge funds have recently added to or reduced their stakes in UAL. Global Trust Asset Management LLC acquired a new position in United Airlines in the 3rd quarter valued at $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of United Airlines in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. bought a new position in shares of United Airlines in the 3rd quarter valued at $36,000. Crewe Advisors LLC bought a new position in shares of United Airlines in the 1st quarter valued at $32,000. Finally, UMB Bank n.a. increased its stake in shares of United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company's stock valued at $33,000 after purchasing an additional 255 shares during the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

United Airlines Stock Performance

The company has a market cap of $31.00 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39. 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 company has a 50 day moving average price of $68.70 and a 200-day moving average price of $55.07.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The firm had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the company posted $3.65 EPS. On average, equities analysts expect that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are 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.