United Airlines (NASDAQ:UAL) Price Target Raised to $122.00

United Airlines (NASDAQ:UAL) had its target price lifted by stock analysts at Citigroup from $98.00 to $122.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 22.76% from the company’s previous close.

A number of other analysts also recently commented on UAL. Morgan Stanley upped their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their target price on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 price target on shares of United Airlines in a report on Friday, November 15th. TD Cowen raised their price target on shares of United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Susquehanna raised their target price on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

United Airlines Price Performance

Shares of UAL traded up $2.55 on Tuesday, reaching $99.38. The stock had a trading volume of 2,431,543 shares, compared to its average volume of 8,383,045. United Airlines has a twelve month low of $37.02 and a twelve month high of $101.60. The firm has a market capitalization of $32.68 billion, a PE ratio of 11.99, a PEG ratio of 1.13 and a beta of 1.39. The firm has a 50-day moving average of $72.33 and a 200 day moving average of $56.26. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter last year, the business posted $3.65 earnings per share. Sell-side analysts expect that United Airlines will post 10.23 EPS for the current year.

United Airlines announced that its board has approved a stock repurchase program 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 programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at United Airlines

In other United Airlines news, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’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 completion of the transaction, the executive vice president now owns 30,427 shares in the company, 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 at this link. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On United Airlines

Several institutional investors and hedge funds have recently made changes to their positions in UAL. Global Trust Asset Management LLC bought a new position in United Airlines during the 3rd quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of United Airlines in the second quarter valued at $30,000. Armstrong Advisory Group Inc. bought a new position in shares of United Airlines in the third quarter valued at about $36,000. UMB Bank n.a. increased its position in United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 255 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of United Airlines by 108.6% in the third quarter. Blue Trust Inc. now owns 753 shares of the transportation company’s stock worth $43,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds 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.