United Airlines (NASDAQ:UAL) Trading Up 4.5% – Here’s What Happened

United Airlines Holdings, Inc. (NASDAQ:UAL)’s share price was up 4.5% on Thursday . The company traded as high as $95.63 and last traded at $95.59. Approximately 2,740,749 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 8,132,892 shares. The stock had previously closed at $91.47.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on UAL shares. Citigroup boosted their price target on United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Bank of America increased their target price on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group increased their price objective 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. Finally, The Goldman Sachs Group restated a “buy” rating and set a $119.00 target price on shares of United Airlines in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $98.95.

United Airlines Stock Performance

The stock has a 50-day simple moving average of $86.25 and a 200-day simple moving average of $61.44. The company has a market capitalization of $31.48 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.44. 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 posted its quarterly 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 business 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 period in the prior year, the company posted $3.65 EPS. On average, analysts anticipate that United Airlines Holdings, Inc. will post 10.27 earnings per share for the current year.

United Airlines announced that its board has initiated a stock buyback plan on Tuesday, October 15th that permits the company to buyback $1.50 billion in outstanding 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 often an indication that the company’s management believes its stock is undervalued.

Insider Activity at United Airlines

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 sale, the executive vice president now owns 30,427 shares of the company’s stock, valued at $2,190,744. This trade represents a 32.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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. The trade was a 30.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,000 shares of company stock valued at $8,158,900. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of United Airlines

Several hedge funds have recently added to or reduced their stakes in UAL. Global Trust Asset Management LLC bought a new position in shares of United Airlines in the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in United Airlines during the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. acquired a new position in shares of United Airlines during the 3rd quarter valued at $36,000. UMB Bank n.a. raised its stake in shares of United Airlines by 59.7% in the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after buying an additional 255 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 valued at $43,000 after buying an additional 392 shares during the period. 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.