Raymond James Forecasts Strong Price Appreciation for United Airlines (NASDAQ:UAL) Stock

United Airlines (NASDAQ:UAL) had its target price upped by Raymond James from $90.00 to $120.00 in a research note issued to investors on Monday morning,Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

Several other research firms have also recently weighed in on UAL. UBS Group reaffirmed a “buy” rating and issued a $139.00 price target on shares of United Airlines in a report on Tuesday, November 26th. Citigroup increased their price target on shares of United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on shares of United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley increased their target price on United Airlines from $88.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Melius Research upgraded shares of United Airlines to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, United Airlines presently has an average rating of “Buy” and an average price target of $102.28.

United Airlines Stock Down 1.4 %

United Airlines stock opened at $98.21 on Monday. The firm has a 50 day simple moving average of $91.26 and a 200 day simple moving average of $64.12. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. United Airlines has a 1-year low of $37.02 and a 1-year high of $105.09. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.12 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the company earned $3.65 EPS. On average, analysts predict that United Airlines will post 10.27 earnings per share for the current year.

United Airlines declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’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 in the company, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,000 shares of company stock worth $8,158,900. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new stake in United Airlines in the third quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of United Airlines in the second quarter worth approximately $30,000. Armstrong Advisory Group Inc. bought a new position in United Airlines in the third quarter worth approximately $36,000. Quest Partners LLC increased its stake in shares of United Airlines by 3,504.8% in the 2nd quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock worth $37,000 after purchasing an additional 736 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in United Airlines during the second quarter valued at $39,000. 69.69% of the stock is owned by 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.