United Airlines (NASDAQ:UAL) Reaches New 12-Month High – Still a Buy?

United Airlines Holdings, Inc. (NASDAQ:UAL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $90.19 and last traded at $90.19, with a volume of 653740 shares changing hands. The stock had previously closed at $89.13.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UAL. Jefferies Financial Group lifted their price objective on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein lifted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Susquehanna lifted their price objective 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 lifted their price objective on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their price objective on shares of United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.94.

United Airlines Stock Up 2.3 %

The company has a 50-day simple moving average of $64.21 and a 200 day simple moving average of $53.68. The company has a market cap of $29.99 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.06 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last posted its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The business had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the prior year, the company earned $3.65 EPS. On average, equities analysts anticipate that United Airlines Holdings, Inc. will post 10.23 EPS for the current year.

United Airlines declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. The trade was a 0.00 % 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 the SEC website. In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the transaction, the executive vice president now owns 30,427 shares of the company’s stock, valued at $2,190,744. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Airlines

Several hedge funds have recently bought and sold shares of UAL. Sei Investments Co. increased its holdings in United Airlines by 8.0% during the 1st quarter. Sei Investments Co. now owns 144,150 shares of the transportation company’s stock worth $6,902,000 after purchasing an additional 10,720 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of United Airlines by 1.3% in the 1st quarter. Russell Investments Group Ltd. now owns 258,032 shares of the transportation company’s stock valued at $12,354,000 after acquiring an additional 3,313 shares during the last quarter. US Bancorp DE grew its stake in United Airlines by 16.8% during the 1st quarter. US Bancorp DE now owns 11,425 shares of the transportation company’s stock worth $547,000 after buying an additional 1,641 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in United Airlines by 13.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 356,412 shares of the transportation company’s stock worth $15,771,000 after acquiring an additional 42,898 shares during the period. Finally, Element Capital Management LLC acquired a new stake in United Airlines during the 1st quarter worth approximately $5,397,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.