Raymond James Boosts United Airlines (NASDAQ:UAL) Price Target to $120.00

United Airlines (NASDAQ:UAL) had its target price lifted by equities researchers at Raymond James from $90.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target indicates a potential upside of 23.58% from the stock’s current price.

Other equities analysts also recently issued reports about the company. TD Cowen upped their price target on United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group upped their target price on shares of United Airlines from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 21st. Morgan Stanley lifted their price target on shares of United Airlines from $88.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Citigroup boosted their price target on shares of United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group reaffirmed a “buy” rating and set a $139.00 price objective on shares of United Airlines in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $102.28.

United Airlines Stock Down 1.1 %

Shares of NASDAQ UAL opened at $97.10 on Monday. The stock has a market cap of $31.93 billion, a P/E ratio of 11.71, a PEG ratio of 1.12 and a beta of 1.44. The business’s fifty day simple moving average is $91.71 and its 200-day simple moving average is $64.46. United Airlines has a 12-month low of $37.02 and a 12-month high of $105.09. 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 released its earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $14.84 billion for the quarter, compared to analyst estimates 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 earned $3.65 earnings per share. As a group, equities analysts predict that United Airlines will post 10.27 EPS for the current fiscal year.

United Airlines announced that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, 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 sale, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This trade represents a 48.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the company’s 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 transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This trade represents a 30.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock valued at $8,158,900 over the last 90 days. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On United Airlines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC acquired a new stake in shares of United Airlines in the third quarter worth $29,000. Strategic Investment Solutions Inc. IL purchased a new position in United Airlines in the second quarter valued at about $30,000. Armstrong Advisory Group Inc. acquired a new position in shares of United Airlines during the third quarter worth about $36,000. Blue Trust Inc. boosted its position 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 buying an additional 392 shares during the period. Finally, Quest Partners LLC grew its stake in shares of United Airlines by 3,504.8% in the second quarter. Quest Partners LLC now owns 757 shares of the transportation company’s stock valued at $37,000 after buying an additional 736 shares in the last quarter. 69.69% of the stock is currently 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.