United Airlines (NASDAQ:UAL) Upgraded to “Strong-Buy” by Barclays

United Airlines (NASDAQ:UAL) was upgraded by equities researchers at Barclays to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. TD Cowen boosted their target price on shares of United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group upped their target price on United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Susquehanna increased their price target on United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Airlines has a consensus rating of “Moderate Buy” and an average price target of $74.32.

United Airlines Price Performance

Shares of UAL opened at $64.05 on Monday. The business has a 50-day moving average of $49.42 and a 200-day moving average of $49.17. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.77 and a quick ratio of 0.71. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.44. United Airlines has a 1 year low of $33.68 and a 1 year high of $65.02.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Wednesday, July 17th. The transportation company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.97 by $0.17. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The firm had revenue of $14.99 billion during the quarter, compared to analyst estimates of $15.04 billion. During the same quarter last year, the business earned $5.03 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that United Airlines will post 9.88 earnings per share for the current year.

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

Hedge Funds Weigh In On United Airlines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas bought a new position in United Airlines during the first quarter valued at $25,000. Fidelis Capital Partners LLC bought a new stake in shares of United Airlines during the 1st quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in United Airlines in the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. purchased a new position in United Airlines during the 3rd quarter valued at about $36,000. Finally, Crewe Advisors LLC bought a new stake in shares of United Airlines during the first quarter valued at about $32,000. 69.69% of the stock is owned by hedge funds and other 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.