United Airlines (NASDAQ:UAL) Earns Buy Rating from The Goldman Sachs Group

United Airlines (NASDAQ:UAL)‘s stock had its “buy” rating reiterated by research analysts at The Goldman Sachs Group in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $119.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 30.53% from the company’s current price.

UAL has been the topic of several other reports. Jefferies Financial Group lifted their price target on shares of United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 21st. TD Cowen boosted their target price on United Airlines from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America upped their target price on United Airlines from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays raised their price target on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Susquehanna increased their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, United Airlines presently has an average rating of “Moderate Buy” and a consensus target price of $86.61.

United Airlines Stock Performance

Shares of NASDAQ:UAL opened at $91.17 on Friday. The firm has a 50 day moving average of $66.95 and a 200 day moving average of $54.48. 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 company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39. United Airlines has a 52 week low of $37.02 and a 52 week high of $93.33.

United Airlines (NASDAQ:UAL) last posted 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. The company had revenue of $14.84 billion for the quarter, compared to analyst estimates of $14.76 billion. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. During the same quarter in the previous year, the firm earned $3.65 earnings per share. On average, sell-side analysts predict that United Airlines will post 10.23 earnings per share for the current fiscal year.

United Airlines announced that its board has approved a stock buyback program 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 programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at United Airlines

In related news, EVP Torbjorn J. Enqvist sold 14,500 shares of United Airlines stock in a transaction dated Thursday, October 17th. The stock was 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 owns 30,427 shares in the company, valued at $2,190,744. The trade was a 32.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kate Gebo sold 17,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.44, for a total value of $1,407,700.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate 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 stock. Price T Rowe Associates Inc. MD increased its stake in shares of United Airlines by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock worth $55,634,000 after purchasing an additional 64,542 shares in the last quarter. Aigen Investment Management LP raised its holdings in shares of United Airlines by 87.2% during the third quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 8,808 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of United Airlines by 47.4% in the first quarter. Bessemer Group Inc. now owns 5,471 shares of the transportation company’s stock valued at $261,000 after acquiring an additional 1,759 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of United Airlines by 16.4% in the first quarter. Tidal Investments LLC now owns 17,429 shares of the transportation company’s stock worth $835,000 after acquiring an additional 2,456 shares during the last quarter. Finally, Senator Investment Group LP increased its position in shares of United Airlines by 39.5% during the second quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock worth $50,901,000 after purchasing an additional 296,051 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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.