Citigroup Issues Positive Forecast for United Airlines (NASDAQ:UAL) Stock Price

United Airlines (NASDAQ:UAL) had its price target hoisted by Citigroup from $98.00 to $122.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the transportation company’s stock.

Several other research firms also recently weighed in on UAL. Jefferies Financial Group lifted their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Susquehanna upped their target price on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein raised their price target on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $119.00 target price on shares of United Airlines in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.15.

United Airlines Stock Performance

UAL stock opened at $96.51 on Tuesday. The company has a 50 day moving average price of $73.21 and a 200 day moving average price of $56.57. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72. United Airlines has a fifty-two week low of $37.02 and a fifty-two week high of $101.60. The stock has a market capitalization of $31.74 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $3.65 EPS. Analysts forecast that United Airlines will post 10.23 EPS for the current year.

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

Insider Transactions at United Airlines

In other news, EVP Linda P. Jojo sold 60,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the transaction, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,000 shares of company stock worth $8,158,900. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Airlines

Institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its position in United Airlines by 10.8% during the third quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 129 shares during the period. Farther Finance Advisors LLC increased its stake 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 valued at $94,000 after buying an additional 189 shares during the period. Wahed Invest LLC grew its stake in United Airlines by 13.7% in the first quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 192 shares during the last quarter. Commerce Bank grew its stake 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 acquiring an additional 196 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its position in United Airlines by 31.4% in the 3rd quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock worth $53,000 after purchasing an additional 222 shares in the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

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.