United Airlines (NASDAQ:UAL) Hits New 52-Week High – Still a Buy?

United Airlines Holdings, Inc. (NASDAQ:UAL) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $90.19 and last traded at $90.19, with a volume of 653740 shares changing hands. The stock had previously closed at $89.13.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Sanford C. Bernstein boosted their price objective on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays boosted their price objective on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen boosted their price objective on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, United Airlines currently has a consensus rating of “Moderate Buy” and an average target price of $84.30.

United Airlines Stock Performance

The firm has a market cap of $29.98 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.06 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. The company’s 50 day moving average is $65.12 and its 200 day moving average is $53.93.

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 business 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 quarter in the prior year, the firm earned $3.65 EPS. As a group, equities analysts predict that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Buying and Selling at United Airlines

In other news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 30,427 shares of the company’s stock, valued at approximately $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. 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 large investors have recently modified their holdings of the company. Encompass More Asset Management acquired a new stake in shares of United Airlines during the third quarter worth $264,000. Edgestream Partners L.P. increased its position in shares of United Airlines by 293.6% during the third quarter. Edgestream Partners L.P. now owns 50,122 shares of the transportation company’s stock worth $2,860,000 after buying an additional 37,389 shares during the period. Appian Way Asset Management LP grew its holdings in United Airlines by 19.4% in the third quarter. Appian Way Asset Management LP now owns 282,406 shares of the transportation company’s stock worth $16,114,000 after purchasing an additional 45,854 shares during the period. Captrust Financial Advisors grew its holdings in United Airlines by 10.3% in the third quarter. Captrust Financial Advisors now owns 16,104 shares of the transportation company’s stock worth $919,000 after purchasing an additional 1,499 shares during the period. Finally, Skye Global Management LP acquired a new stake in United Airlines in the third quarter worth $1,797,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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.