United Airlines (NASDAQ:UAL) Upgraded to “Strong-Buy” at Melius Research

Melius Research upgraded shares of United Airlines (NASDAQ:UAL) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other analysts have also recently weighed in on UAL. Barclays raised their target price on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. UBS Group reaffirmed a “buy” rating and issued a $139.00 target price on shares of United Airlines in a report on Tuesday, November 26th. Morgan Stanley raised their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. TD Cowen raised their target price on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Susquehanna raised their target price on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, United Airlines currently has an average rating of “Buy” and an average target price of $96.15.

United Airlines Stock Up 3.6 %

Shares of UAL opened at $99.25 on Monday. The stock has a market capitalization of $32.64 billion, a PE ratio of 11.97, a P/E/G ratio of 1.13 and a beta of 1.44. United Airlines has a 1 year low of $37.02 and a 1 year high of $101.60. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The company’s 50-day simple moving average is $78.49 and its 200-day simple moving average is $58.33.

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, topping the consensus estimate of $3.10 by $0.23. The business had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same quarter in the prior year, the company earned $3.65 earnings per share. Analysts forecast that United Airlines will post 10.23 earnings per share for the current fiscal year.

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

Insider Transactions at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction 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 of the company’s stock, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Linda P. Jojo sold 60,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the sale, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock worth $8,158,900. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On United Airlines

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of United Airlines by 41.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,112,583 shares of the transportation company’s stock worth $177,604,000 after purchasing an additional 908,558 shares during the period. Aigen Investment Management LP lifted its holdings in United Airlines by 87.2% in the third quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 8,808 shares during the period. Edgestream Partners L.P. lifted its holdings in United Airlines by 293.6% in the third quarter. Edgestream Partners L.P. now owns 50,122 shares of the transportation company’s stock valued at $2,860,000 after acquiring an additional 37,389 shares during the period. Icon Wealth Advisors LLC lifted its holdings in United Airlines by 1,886.6% in the third quarter. Icon Wealth Advisors LLC now owns 52,584 shares of the transportation company’s stock valued at $3,000,000 after acquiring an additional 49,937 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in United Airlines in the third quarter valued at $63,486,000. 69.69% of the stock is owned by institutional investors and hedge funds.

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.