BlackRock Fund Advisors recently announced the acquisition of new stake in United Airlines Holdings Inc (NASDAQ:UAL). The institutional investor has increased its shareholding in the Industrials company by 2.08% to 14.85 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 4.53% valued currently at $584.96 million. In addition, Capital Research & Management Co raised its holdings by 6180.0 to 11.94 million shares. And Geode Capital Management LLC has lifted its position by 2.75% or 0.2 million shares – to 7.37 million shares.
With over 12.99 million United Airlines Holdings Inc (UAL) shares trading Monday and a closing price of $42.92 on the day, the dollar volume was approximately $557.52 million. The shares have shown a negative half year performance of -23.81% and its price on 01/08/24 gained nearly 2.78%. Currently, there are 326.93M common shares owned by the public and among those 326.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for UAL have a consensus price objective of $58.85. The analysts have set the share’s price value over the next 12 months at a high of $98.00 and a low of $40.00. The average price target is 27.07% above its recent price level and a downside to the estimated low will see the stock lose -7.3% over that period. But an upside of 56.2% will see the stock hit the forecast high price target while median target price for the stock is $57.50.
Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 582,653 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 276,605 shares.
The top 3 mutual fund holders in United Airlines Holdings Inc are American Funds Growth Fund of Ame, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market ETF. American Funds Growth Fund of Ame owns 16.28 million shares of the company’s stock, all valued at over $641.26 million. The company sold 54530.0 shares recently to bring their total holdings to about 4.96% of the shares outstanding. Vanguard Total Stock Market ETF bought 11458.0 shares to bring its total holdings to over 10.22 million shares at a value of $402.53 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.12% of the shares outstanding.
Shares of United Airlines Holdings Inc (NASDAQ: UAL) opened at $41.48, down -$0.28 from a prior closing price of $41.76. However, the script later moved the day high at 43.52, up 2.78%. The company’s stock has a 5-day price change of 4.02% and 2.63% over the past three months. UAL shares are trading 4.02% year to date (YTD), with the 12-month market performance up to 4.07% higher. It has a 12-month low price of $33.68 and touched a high of $58.23 over the same period. UAL has an average intraday trading volume of 8.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.02%, 8.63%, and -5.61% respectively.
Institutional ownership of United Airlines Holdings Inc (NASDAQ: UAL) shares accounts for 70.88% of the company’s 326.93M shares outstanding. Mutual fund holders own 45.49%, while other institutional holders and individual stakeholders account for 5.86% and 25.67% respectively.
It has a market capitalization of $14.08B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 4.98, while the earnings-per-share (ttm) stands at $8.62. The company has a PEG of 0.08 and a Quick Ratio of 0.82 with the debt-to-equity ratio at 4.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.66% over the week and 2.62% over the month.
Analysts forecast that United Airlines Holdings Inc (UAL) will achieve an EPS of $1.69 for the current quarter, -$0.33 for the next quarter and $9.64 for 2024. The lowest estimate earnings-per-share for the quarter is $1.5 while analysts give the company a high EPS estimate of $1.94. Comparatively, EPS for the current quarter was $2.46 a year ago. Earnings per share for the fiscal year are expected to increase by 287.74%, and -2.18% over the next financial year. EPS should grow at an annualized rate of 59.01% over the next five years, compared to -20.57% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate United Airlines Holdings Inc (UAL) as a “Strong Buy” at a consensus score of 1.87. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 7 of the 23 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UAL, a number of firms have released research notes about the stock. Redburn stated their Buy rating for the stock in a research note on August 07, 2023, with the firm’s price target at $80.
