United Airlines (NASDAQ:UAL) Shares Gap Up – Still a Buy?

United Airlines Holdings Inc (NASDAQ:UAL) gapped up before the market opened on Monday. The stock had previously closed at $104.24, but opened at $108.96. United Airlines shares last traded at $111.2820, with a volume of 1,711,271 shares traded.

Wall Street Analysts Forecast Growth

UAL has been the topic of several research analyst reports. Wall Street Zen lowered United Airlines from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays cut their price target on shares of United Airlines from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Morgan Stanley boosted their price objective on shares of United Airlines from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Evercore reiterated an “outperform” rating and issued a $160.00 price objective on shares of United Airlines in a report on Wednesday, October 21st. Finally, Rothschild & Co Redburn decreased their price objective on United Airlines from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, September 18th. Sixteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.19.

United Airlines Stock Up 5.5%

The company has a market capitalization of $35.74 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 1.32 and a beta of 1.38. The business’s 50-day moving average is $107.65 and its 200-day moving average is $108.27. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 1.38.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, October 20th. The transportation company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). United Airlines had a net margin of 5.46% and a return on equity of 17.59%. The business had revenue of $17.88 billion during the quarter, compared to analysts’ expectations of $17.89 billion. During the same quarter last year, the company earned $2.78 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that United Airlines Holdings Inc will post 7.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Andrew Nocella sold 5,000 shares of United Airlines stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $117.00, for a total transaction of $585,000.00. Following the completion of the sale, the executive vice president directly owned 214,955 shares in the company, valued at $25,149,735. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On United Airlines

A number of large investors have recently modified their holdings of UAL. Apollon Wealth Management LLC grew its position in shares of United Airlines by 1.1% during the third quarter. Apollon Wealth Management LLC now owns 10,327 shares of the transportation company’s stock worth $1,146,000 after buying an additional 117 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of United Airlines by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 6,461 shares of the transportation company’s stock worth $717,000 after buying an additional 127 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in United Airlines by 6.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 2,392 shares of the transportation company’s stock valued at $265,000 after buying an additional 137 shares during the period. Koshinski Asset Management Inc. increased its position in shares of United Airlines by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 3,914 shares of the transportation company’s stock valued at $360,000 after purchasing an additional 138 shares during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in shares of United Airlines by 32.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 654 shares of the transportation company’s stock worth $60,000 after purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

About United Airlines

United Airlines Holdings, Inc is the parent company of United Airlines, a major U.S. commercial airline headquartered in Chicago, Illinois. The company provides scheduled passenger air transportation and air cargo services, connecting customers across the United States and to international destinations.

United operates a broad network serving North America, Latin America, Europe, Asia, Africa and Oceania. Its operations are supported by hubs in major U.S. cities, including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco and Washington, DC, as well as an extensive network of regional carriers operating under the United Express brand.

The company offers several travel classes and related services, including premium-cabin seating, onboard amenities, airport lounges and the MileagePlus customer loyalty program.