United Airlines (NASDAQ:UAL) Price Target Raised to $85.00 at Sanford C. Bernstein

United Airlines (NASDAQ:UAL) had its target price raised by Sanford C. Bernstein from $68.00 to $85.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 14.82% from the company’s current price.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays boosted their price objective on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna raised 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. TD Cowen upped their price target on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group raised their price target on shares of United Airlines from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, United Airlines currently has a consensus rating of “Moderate Buy” and an average price target of $78.88.

United Airlines Price Performance

Shares of NASDAQ UAL traded up $2.01 during trading hours on Thursday, reaching $74.03. 9,189,428 shares of the stock traded hands, compared to its average volume of 8,642,378. The company has a market capitalization of $24.34 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The company’s 50-day simple moving average is $50.08 and its two-hundred day simple moving average is $49.33. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.07. United Airlines has a 52-week low of $33.68 and a 52-week high of $74.56.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period in the previous year, the business posted $3.65 EPS. Equities research analysts forecast that United Airlines will post 9.88 EPS for the current year.

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

Institutional Investors Weigh In On United Airlines

Several large investors have recently bought and sold shares of UAL. Wahed Invest LLC raised its stake in United Airlines by 13.7% during the 1st quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock valued at $76,000 after buying an additional 192 shares during the last quarter. Mather Group LLC. increased its position in United Airlines by 26.6% during the second quarter. Mather Group LLC. now owns 1,174 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 247 shares during the last quarter. UMB Bank n.a. lifted its holdings in United Airlines by 59.7% in the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 255 shares during the period. Czech National Bank boosted its position in United Airlines by 0.5% in the first quarter. Czech National Bank now owns 57,714 shares of the transportation company’s stock worth $2,763,000 after purchasing an additional 271 shares during the last quarter. Finally, XML Financial LLC grew its stake in shares of United Airlines by 2.3% during the 1st 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 period. 69.69% of the stock is currently owned by 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.