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

United Airlines (NASDAQ:UAL)‘s stock had its “buy” rating restated by equities researchers at The Goldman Sachs Group in a note issued to investors on Friday,Benzinga reports. They presently have a $119.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 30.54% from the company’s current price.

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

United Airlines Price Performance

United Airlines stock opened at $91.16 on Friday. The business has a 50 day simple moving average of $65.12 and a 200 day simple moving average of $53.93. United Airlines has a one year low of $37.02 and a one year high of $93.33. The company has a market capitalization of $29.98 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.79 and a quick ratio of 0.72.

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

United Airlines declared that its Board of Directors has approved a stock buyback program on Tuesday, October 15th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at United Airlines

In other news, EVP Kate Gebo sold 17,500 shares of the company’s 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 $3,218,565.28. This represents a 30.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the company’s 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 directly owns 30,427 shares in the company, 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 insiders.

Institutional Investors Weigh In On United Airlines

Institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in shares of United Airlines in the third quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of United Airlines in the second quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new stake in shares of United Airlines during the 1st quarter worth $32,000. UMB Bank n.a. increased its position in shares of United Airlines by 59.7% in the second 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 period. Finally, Armstrong Advisory Group Inc. bought a new stake in United Airlines during the third quarter worth about $36,000. 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.