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

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

Analyst Ratings Changes

UAL has been the topic of several research analyst reports. Susquehanna upped their price target on shares of United Airlines from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays upped their price target on shares of United Airlines from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. TD Cowen upped their target price on shares of United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped their target price on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.94.

United Airlines Trading Down 2.5 %

The firm has a market capitalization of $28.10 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39. The firm’s 50-day simple moving average is $60.67 and its 200-day simple moving average is $52.71. 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 issued its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. United Airlines had a net margin of 4.94% and a return on equity of 30.72%. During the same period in the prior year, the firm posted $3.65 earnings per share. Equities analysts expect that United Airlines Holdings, Inc. will post 10.18 earnings per share for the current year.

United Airlines declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 $3,218,565.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.00, for a total value of $1,044,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,427 shares of the company’s stock, valued at $2,190,744. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kate Gebo sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On United Airlines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC increased its stake in shares of United Airlines by 268.7% during the third quarter. Quest Partners LLC now owns 2,791 shares of the transportation company’s stock valued at $159,000 after purchasing an additional 2,034 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in United Airlines by 1,464.9% in the third quarter. Thrivent Financial for Lutherans now owns 207,603 shares of the transportation company’s stock worth $11,846,000 after purchasing an additional 194,337 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of United Airlines by 18.9% during the 3rd quarter. Natixis Advisors LLC now owns 85,680 shares of the transportation company’s stock worth $4,889,000 after acquiring an additional 13,642 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of United Airlines by 1.2% during the 3rd quarter. Empirical Finance LLC now owns 22,128 shares of the transportation company’s stock worth $1,263,000 after acquiring an additional 262 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of United Airlines during the 3rd quarter worth $217,000. Institutional investors own 69.69% of the company’s stock.

United Airlines Company Profile

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.