United Airlines (NASDAQ:UAL) Sets New 52-Week High – Here’s What Happened

by · The Markets Daily

United Airlines Holdings, Inc. (NASDAQ:UAL – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $86.30 and last traded at $86.22, with a volume of 371672 shares trading hands. The stock had previously closed at $80.03.

Wall Street Analysts Forecast Growth

UAL has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Susquehanna increased their price objective on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. TD Cowen increased their price objective on United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays increased their price objective on United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, 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 note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.94.

Check Out Our Latest Stock Report on United Airlines

United Airlines Stock Performance

The business has a fifty day simple moving average of $59.75 and a 200-day simple moving average of $52.47. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The firm has a market cap of $28.27 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.92 and a beta of 1.39.

United Airlines (NASDAQ:UAL – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the prior year, the company earned $3.65 earnings per share. On average, sell-side analysts predict that United Airlines Holdings, Inc. will post 10.18 EPS for the current fiscal year.

United Airlines declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 30,427 shares in the company, valued at approximately $2,190,744. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated 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 completion of the sale, the executive vice president now owns 30,427 shares of the company’s stock, valued at $2,190,744. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of United Airlines by 1.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,416 shares of the transportation company’s stock valued at $930,000 after buying an additional 287 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of United Airlines by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,491 shares of the transportation company’s stock valued at $1,604,000 after buying an additional 2,254 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of United Airlines by 58.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 50,806 shares of the transportation company’s stock valued at $2,433,000 after buying an additional 18,704 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of United Airlines during the 1st quarter valued at about $27,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of United Airlines by 86.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,379 shares of the transportation company’s stock valued at $784,000 after buying an additional 7,591 shares in the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

About United Airlines

(Get Free Report)

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.

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