United Airlines (NASDAQ:UAL) Sets New 12-Month High – What’s Next?

United Airlines Holdings, Inc. (NASDAQ:UAL)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $96.10 and last traded at $96.10, with a volume of 42588 shares changing hands. The stock had previously closed at $95.24.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UAL shares. Susquehanna upped their target price on shares of United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley raised their price target on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group restated a “buy” rating and set a $119.00 target price on shares of United Airlines in a report on Friday, November 15th. UBS Group reaffirmed a “buy” rating and issued a $139.00 price target on shares of United Airlines in a report on Tuesday. Finally, Bank of America upped their target price on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

United Airlines Trading Down 0.3 %

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.13 and a beta of 1.39. The business has a 50 day moving average of $73.21 and a 200 day moving average of $56.57.

United Airlines (NASDAQ:UAL) last released its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the firm earned $3.65 EPS. As a group, research analysts predict that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has approved a share buyback plan on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the sale, the executive vice president now owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,000 shares of company stock valued at $8,158,900. 0.63% of the stock is owned by company insiders.

Institutional Trading of United Airlines

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of United Airlines by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after buying an additional 64,542 shares in the last quarter. Tidal Investments LLC boosted its position in United Airlines by 16.4% during the 1st quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock worth $835,000 after acquiring an additional 2,456 shares during the last quarter. Comerica Bank grew its stake in shares of United Airlines by 8.3% during the 1st quarter. Comerica Bank now owns 52,457 shares of the transportation company’s stock worth $2,512,000 after acquiring an additional 4,002 shares in the last quarter. XML Financial LLC raised its holdings in shares of United Airlines by 2.3% in the first quarter. XML Financial LLC now owns 11,970 shares of the transportation company’s stock valued at $573,000 after purchasing an additional 272 shares during the last quarter. Finally, Heartland Bank & Trust Co bought a new stake in shares of United Airlines in the first quarter worth $245,000. Institutional investors and hedge funds 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.