United Airlines (NASDAQ:UAL) Price Target Raised to $120.00

United Airlines (NASDAQ:UAL) had its price target raised by Raymond James from $90.00 to $120.00 in a report published on Monday morning,Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

Several other research firms have also recently weighed in on UAL. Sanford C. Bernstein increased their price objective on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 price target on shares of United Airlines in a report on Friday, November 15th. Barclays boosted their price objective on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Susquehanna increased 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. Finally, Jefferies Financial Group boosted their price target on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $102.28.

United Airlines Price Performance

NASDAQ UAL opened at $97.10 on Monday. The company has a market cap of $31.93 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.12 and a beta of 1.44. United Airlines has a 1 year low of $37.02 and a 1 year high of $105.09. 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 company has a fifty day simple moving average of $92.18 and a 200 day simple moving average of $64.69.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same period last year, the business posted $3.65 earnings per share. On average, sell-side analysts predict that United Airlines will post 10.27 EPS for the current year.

United Airlines announced that its board has authorized a stock buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total transaction of $1,044,000.00. Following the transaction, the executive vice president now owns 30,427 shares in the company, valued at $2,190,744. This represents a 32.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 63,599 shares of the company’s stock, valued at $6,049,536.88. The trade was a 48.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock worth $8,158,900 in the last three months. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new position in shares of United Airlines during the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new position in United Airlines during the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. bought a new position in shares of United Airlines in the 3rd quarter valued at about $36,000. Blue Trust Inc. grew its position in shares of United Airlines by 108.6% during the 3rd quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after buying an additional 392 shares during the period. Finally, Quest Partners LLC raised its stake in shares of United Airlines by 3,504.8% during the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock worth $37,000 after buying an additional 736 shares during the last quarter. Institutional investors 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.