United Airlines (NASDAQ:UAL) Reaches New 12-Month High Following Analyst Upgrade

United Airlines Holdings, Inc. (NASDAQ:UAL)’s stock price hit a new 52-week high during mid-day 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.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price target on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup raised their target price on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Dbs Bank upgraded United Airlines from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 26th. Bank of America lifted their target price on shares of United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Raymond James increased their price target on shares of United Airlines from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $106.45.

Insider Buying and Selling

In other United Airlines news, EVP Linda P. Jojo sold 60,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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 owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value 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 represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock worth $8,158,900. 0.63% of the stock is owned by insiders.

Institutional Trading of United Airlines

Hedge funds have recently made changes to their positions in the company. LVM Capital Management Ltd. MI purchased a new position in shares of United Airlines during the 4th quarter worth $1,030,000. First Hawaiian Bank acquired a new position in United Airlines in the fourth quarter valued at about $367,000. Fulton Bank N.A. purchased a new position in United Airlines during the fourth quarter worth about $450,000. Doliver Advisors LP acquired a new stake in shares of United Airlines during the fourth quarter valued at about $276,000. Finally, Neville Rodie & Shaw Inc. purchased a new stake in shares of United Airlines in the 4th quarter valued at approximately $587,000. Hedge funds and other institutional investors own 69.69% of the company’s stock.

United Airlines Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The firm’s fifty day moving average price is $95.47 and its 200 day moving average price is $67.21. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.44.

United Airlines (NASDAQ:UAL) last released its quarterly 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. The business had revenue of $14.84 billion during 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 last year, the business posted $3.65 earnings per share. Analysts forecast that United Airlines Holdings, Inc. will post 10.27 EPS for the current fiscal year.

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