United Airlines (NASDAQ:UAL) Hits New 12-Month High After Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL) hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $108.00 to $133.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. United Airlines traded as high as $110.33 and last traded at $108.78, with a volume of 2935376 shares. The stock had previously closed at $103.72.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of United Airlines from $88.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup lifted their price target on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Susquehanna increased their price objective on United Airlines from $85.00 to $120.00 and gave the stock a “positive” rating in a report on Tuesday. Raymond James lifted their target price on shares of United Airlines from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, TD Cowen increased their price target on shares of United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $106.45.

Insider Transactions at United Airlines

In related news, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the sale, the executive vice president now owns 63,599 shares in the company, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock worth $8,158,900. Company insiders own 0.63% of the company’s stock.

Institutional Trading of United Airlines

Institutional investors and hedge funds have recently modified their holdings of the company. Castle Hook Partners LP increased its holdings in United Airlines by 176.1% in the 3rd quarter. Castle Hook Partners LP now owns 4,245,120 shares of the transportation company’s stock valued at $242,227,000 after buying an additional 2,707,442 shares during the period. Point72 Asset Management L.P. raised its position in United Airlines by 489.2% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 period. Rubric Capital Management LP acquired a new stake in United Airlines during the third quarter valued at approximately $63,486,000. Finally, Sanders Capital LLC raised its holdings in shares of United Airlines by 12.4% in the 3rd quarter. Sanders Capital LLC now owns 9,457,587 shares of the transportation company’s stock worth $539,650,000 after buying an additional 1,040,589 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

United Airlines Price Performance

The company has a 50-day moving average of $95.47 and a 200 day moving average of $67.08. The firm has a market cap of $35.23 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.12 and a beta of 1.44. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79.

United Airlines (NASDAQ:UAL) last issued its 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 company 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 previous year, the company earned $3.65 EPS. On average, sell-side analysts anticipate that United Airlines Holdings, Inc. will post 10.27 EPS for the current year.

United Airlines announced that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

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.