Barclays Increases United Airlines (NASDAQ:UAL) Price Target to $75.00

United Airlines (NASDAQ:UAL) had its price target upped by Barclays from $66.00 to $75.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other research firms also recently issued reports on UAL. TD Cowen lifted their price target on shares of United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Susquehanna lifted their price objective on shares of United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group lifted their price objective 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.37.

United Airlines Stock Performance

NASDAQ UAL opened at $72.02 on Wednesday. The company has a fifty day simple moving average of $50.08 and a 200 day simple moving average of $49.33. United Airlines has a 12-month low of $33.68 and a 12-month high of $73.65. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.07. The company has a market cap of $23.68 billion, a P/E ratio of 8.17, a PEG ratio of 0.94 and a beta of 1.44.

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, beating the consensus estimate of $3.10 by $0.23. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The business had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the firm posted $3.65 EPS. Sell-side analysts predict that United Airlines will post 9.88 earnings per share for the current fiscal year.

United Airlines announced that its board has approved a share buyback 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On United Airlines

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of United Airlines by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after purchasing an additional 64,542 shares during the period. Bessemer Group Inc. raised its stake in shares of United Airlines by 47.4% during the 1st quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock worth $261,000 after purchasing an additional 1,759 shares during the period. Tidal Investments LLC raised its stake in United Airlines by 16.4% in the 1st quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock valued at $835,000 after acquiring an additional 2,456 shares during the period. Texas Permanent School Fund Corp raised its stake in United Airlines by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 67,719 shares of the transportation company’s stock valued at $3,242,000 after acquiring an additional 669 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in United Airlines by 5.8% in the 1st quarter. Douglas Lane & Associates LLC now owns 522,808 shares of the transportation company’s stock valued at $25,032,000 after acquiring an additional 28,462 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.