Delta Air Lines (NYSE:DAL) PT Raised to $61.00

Delta Air Lines (NYSE:DAL) had its price objective upped by TD Cowen from $55.00 to $61.00 in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price points to a potential upside of 30.05% from the stock’s previous close.

A number of other equities analysts have also commented on DAL. Susquehanna raised their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. UBS Group assumed coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price target on the stock. Citigroup raised their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Bank of America raised their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $60.30.

Delta Air Lines Price Performance

Shares of DAL opened at $46.91 on Tuesday. The firm has a market capitalization of $30.27 billion, a PE ratio of 6.03, a PEG ratio of 0.70 and a beta of 1.35. The company’s 50-day moving average is $50.63 and its 200-day moving average is $45.20. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities analysts forecast that Delta Air Lines will post 6.61 EPS for the current year.

Insider Activity

In related news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $495,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $495,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the sale, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,919 shares of company stock worth $8,834,653. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds have recently added to or reduced their stakes in DAL. Wellington Management Group LLP boosted its position in Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after buying an additional 5,914,301 shares during the period. Capital International Investors boosted its position in Delta Air Lines by 8.8% during the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after buying an additional 1,689,053 shares during the period. Norges Bank bought a new position in Delta Air Lines during the 4th quarter worth approximately $65,056,000. Jennison Associates LLC raised its holdings in Delta Air Lines by 145.2% during the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock worth $105,347,000 after purchasing an additional 1,550,770 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Delta Air Lines by 27.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after purchasing an additional 1,376,221 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.