TD Cowen Forecasts Strong Price Appreciation for United Airlines (NASDAQ:UAL) Stock

United Airlines (NASDAQ:UAL) had its target price boosted by TD Cowen from $100.00 to $125.00 in a research report released on Tuesday morning, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the transportation company’s stock.

A number of other brokerages have also recently commented on UAL. Sanford C. Bernstein upped their price target on United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley upped their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays boosted their price target on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $119.00 price objective on shares of United Airlines in a research note on Friday, November 15th. Finally, Susquehanna boosted their target price on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.28.

United Airlines Price Performance

Shares of UAL stock opened at $94.26 on Tuesday. United Airlines has a 1 year low of $37.02 and a 1 year high of $95.19. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 1.95. The firm’s 50 day moving average is $68.70 and its 200-day moving average is $55.07. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.08 and a beta of 1.39.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Tuesday, October 15th. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $14.84 billion during 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 last year, the company earned $3.65 earnings per share. Sell-side analysts forecast that United Airlines will post 10.23 EPS for the current fiscal year.

United Airlines announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,190,744. This represents a 32.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kate Gebo sold 17,500 shares of United Airlines 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 sale, the executive vice president now owns 40,012 shares in the company, valued at approximately $3,218,565.28. This represents a 30.43 % 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

Hedge funds have recently modified their holdings of the business. Global Trust Asset Management LLC acquired a new position in United Airlines during the 3rd quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of United Airlines in the second quarter worth approximately $30,000. Crewe Advisors LLC bought a new stake in United Airlines in the first quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings in United Airlines by 59.7% during the 2nd quarter. UMB Bank n.a. now owns 682 shares of the transportation company’s stock worth $33,000 after purchasing an additional 255 shares during the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of United Airlines in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds 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.