The Goldman Sachs Group Reaffirms “Buy” Rating for United Airlines (NASDAQ:UAL)

United Airlines (NASDAQ:UAL)‘s stock had its “buy” rating reiterated by investment analysts at The Goldman Sachs Group in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $119.00 target price on the transportation company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 30.54% from the company’s previous close.

Several other research analysts also recently commented on UAL. Sanford C. Bernstein lifted their target price on United Airlines from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen upped their target price on United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Susquehanna boosted their price target on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.61.

United Airlines Stock Performance

NASDAQ:UAL opened at $91.16 on Friday. The stock’s 50-day simple moving average is $65.12 and its 200 day simple moving average is $53.93. United Airlines has a twelve month low of $37.02 and a twelve month high of $93.33. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $29.98 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same period in the prior year, the company earned $3.65 EPS. On average, analysts anticipate that United Airlines will post 10.23 EPS for the current fiscal year.

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

Insider Transactions at United Airlines

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the stock in a transaction on Thursday, October 17th. The stock was 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 approximately $2,190,744. This represents a 32.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of the business’s 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 sale, the executive vice president now owns 40,012 shares in the company, valued at $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank increased its position in shares of United Airlines by 10.8% during the third quarter. Huntington National Bank now owns 1,321 shares of the transportation company’s stock valued at $75,000 after buying an additional 129 shares during the period. Farther Finance Advisors LLC grew its position in United Airlines by 13.0% during the third quarter. Farther Finance Advisors LLC now owns 1,647 shares of the transportation company’s stock worth $94,000 after buying an additional 189 shares in the last quarter. Wahed Invest LLC increased its stake in United Airlines by 13.7% in the 1st quarter. Wahed Invest LLC now owns 1,591 shares of the transportation company’s stock worth $76,000 after acquiring an additional 192 shares during the last quarter. Commerce Bank raised its holdings in shares of United Airlines by 1.1% in the 3rd quarter. Commerce Bank now owns 17,620 shares of the transportation company’s stock valued at $1,005,000 after acquiring an additional 196 shares in the last quarter. Finally, Cromwell Holdings LLC increased its position in shares of United Airlines by 31.4% in the third quarter. Cromwell Holdings LLC now owns 930 shares of the transportation company’s stock worth $53,000 after purchasing an additional 222 shares during the last quarter. 69.69% of the stock is owned by institutional investors.

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.