United Airlines (NASDAQ:UAL) Receives “Buy” Rating from The Goldman Sachs Group

The Goldman Sachs Group reissued their buy rating on shares of United Airlines (NASDAQ:UAL) in a report published on Friday, Marketbeat reports. The firm currently has a $119.00 price target on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on United Airlines from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on United Airlines from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Susquehanna boosted their price objective on shares of United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Bank of America raised their target price on United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays upped their price objective on United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, United Airlines presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.61.

United Airlines Price Performance

NASDAQ UAL traded up $0.01 during trading hours on Friday, hitting $91.17. The company had a trading volume of 4,470,000 shares, compared to its average volume of 8,485,025. The firm has a 50 day simple moving average of $66.95 and a 200 day simple moving average of $54.45. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.72 and a current ratio of 0.79. United Airlines has a 52 week low of $37.02 and a 52 week high of $93.33. The firm has a market capitalization of $29.98 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.06 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the company posted $3.65 earnings per share. Equities research analysts expect that United Airlines will post 10.23 earnings per share for the current year.

United Airlines declared that its board has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of United Airlines 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 transaction, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. The trade was a 30.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were 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 of the company’s stock, valued at $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. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Airlines

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of United Airlines by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,161,931 shares of the transportation company’s stock valued at $55,634,000 after purchasing an additional 64,542 shares in the last quarter. Aigen Investment Management LP boosted its holdings in United Airlines by 87.2% in the 3rd quarter. Aigen Investment Management LP now owns 18,912 shares of the transportation company’s stock valued at $1,079,000 after purchasing an additional 8,808 shares during the period. Bessemer Group Inc. increased its stake in United Airlines by 47.4% during 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 during the period. Tidal Investments LLC lifted its position in 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 purchasing an additional 2,456 shares during the period. Finally, Senator Investment Group LP raised its position in United Airlines by 39.5% in 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. 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.