United Airlines (NASDAQ:UAL) Raised to “Strong-Buy” at Barclays

Barclays upgraded shares of United Airlines (NASDAQ:UAL) to a strong-buy rating in a research note published on Monday morning, Zacks.com reports.

Several other equities research analysts have also recently issued reports on UAL. Jefferies Financial Group lifted their price objective on United Airlines from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price target on United Airlines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Susquehanna increased their price objective on United Airlines from $60.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

United Airlines Price Performance

Shares of UAL opened at $72.02 on Monday. The business’s 50-day moving average is $50.08 and its two-hundred day moving average is $49.33. The company has a market capitalization of $23.68 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.94 and a beta of 1.44. United Airlines has a fifty-two week low of $33.68 and a fifty-two week high of $73.65. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.71 and a current ratio of 0.77.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the prior year, the firm posted $3.65 earnings per share. Research analysts predict that United Airlines will post 9.88 earnings per share for the current year.

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

Institutional Trading of United Airlines

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors increased its position in United Airlines by 2.4% in the 1st quarter. Capital International Investors now owns 18,502,761 shares of the transportation company’s stock valued at $885,912,000 after acquiring an additional 429,501 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after purchasing an additional 1,263,604 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of United Airlines by 489.2% during the second quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock worth $111,687,000 after purchasing an additional 1,905,664 shares during the period. Interval Partners LP acquired a new stake in shares of United Airlines during the first quarter worth $103,354,000. Finally, Price T Rowe Associates Inc. MD grew its position in United Airlines by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock valued at $55,634,000 after buying an additional 64,542 shares during the last quarter. 69.69% of the stock is 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.