United Airlines (NASDAQ:UAL) Hits New 1-Year High - Still a Buy?

United Airlines Holdings, Inc. (NASDAQ:UAL - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $90.19 and last traded at $90.19, with a volume of 653740 shares changing hands. The stock had previously closed at $89.13.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UAL. TD Cowen increased their price objective on United Airlines from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Morgan Stanley increased their price objective on United Airlines from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Sanford C. Bernstein increased their price objective on United Airlines from $68.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Susquehanna upped their target price on United Airlines from $70.00 to $85.00 and gave the company a "positive" rating in a research report on Thursday, October 17th. Finally, Barclays upped their target price on United Airlines from $66.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.94.

United Airlines Stock Up 0.7 %

The business has a 50-day simple moving average of $64.21 and a two-hundred day simple moving average of $53.68. 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 company has a market capitalization of $29.53 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.06 and a beta of 1.39.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The business had revenue of $14.84 billion during the quarter, compared to analysts' expectations of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same period last year, the firm earned $3.65 EPS. As a group, equities analysts predict that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

United Airlines announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kate Gebo sold 17,500 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $3,218,565.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares of the company's stock, valued at $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On United Airlines

Several hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its holdings in shares of United Airlines by 10.8% during 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 during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of United Airlines by 13.0% during 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 last quarter. Wahed Invest LLC boosted its holdings in shares of United Airlines by 13.7% during the first quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company's stock worth $76,000 after purchasing an additional 192 shares during the last quarter. Commerce Bank boosted its holdings in shares of United Airlines by 1.1% during the third quarter. Commerce Bank now owns 17,620 shares of the transportation company's stock worth $1,005,000 after purchasing an additional 196 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in shares of United Airlines by 31.4% during the third quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company's stock worth $53,000 after purchasing an additional 222 shares during 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.