United Airlines (NASDAQ:UAL) Upgraded at Melius Research

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

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group boosted their target price on United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Citigroup increased their price target on United Airlines from $98.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Bank of America increased their price target on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Dbs Bank raised United Airlines from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $119.00 price target on shares of United Airlines in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $96.15.

United Airlines Stock Up 3.6 %

Shares of UAL opened at $99.25 on Monday. The business’s 50 day moving average is $78.49 and its 200 day moving average is $58.33. The company has a market capitalization of $32.64 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.44. United Airlines has a 12-month low of $37.02 and a 12-month high of $101.60. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last issued its 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 return on equity of 30.72% and a net margin of 4.94%. The company had revenue of $14.84 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the company earned $3.65 EPS. Research analysts expect 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 stock repurchase program on Tuesday, October 15th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of United Airlines stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the completion of the transaction, the executive vice president now directly owns 40,012 shares in the company, valued at approximately $3,218,565.28. This trade represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the sale, the executive vice president now directly owns 63,599 shares in the company, valued at approximately $6,049,536.88. The trade was a 48.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $8,158,900 over the last three months. 0.63% of the stock is currently owned by insiders.

Institutional Trading of United Airlines

Institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in United Airlines during the third quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in United Airlines in the second quarter valued at $30,000. UMB Bank n.a. raised its position in United Airlines by 59.7% in the second quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 255 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in United Airlines in the third quarter valued at $36,000. Finally, Quest Partners LLC raised its holdings in shares of United Airlines by 3,504.8% in the 2nd quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after buying an additional 736 shares during the period. 69.69% of the stock is owned by institutional investors and hedge funds.

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.