Jefferies Financial Group Raises Delta Air Lines (NYSE:DAL) Price Target to $60.00

Delta Air Lines (NYSE:DAL) had its price objective lifted by analysts at Jefferies Financial Group from $56.00 to $60.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 23.20% from the company’s current price.

Several other research analysts also recently issued reports on the stock. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. TD Cowen lowered their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Sanford C. Bernstein reduced their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.83.

Delta Air Lines Price Performance

Shares of DAL stock traded down $1.26 during trading on Wednesday, hitting $48.70. The company had a trading volume of 3,426,595 shares, compared to its average volume of 9,458,345. The firm has a market capitalization of $31.43 billion, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34. Delta Air Lines has a one year low of $30.60 and a one year high of $53.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The stock’s 50-day moving average price is $43.06 and its 200 day moving average price is $46.65.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. Equities analysts expect that Delta Air Lines will post 6.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction dated Friday, July 12th. The shares were bought at an average cost of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Asset Management Inc lifted its holdings in shares of Delta Air Lines by 1.6% in the fourth quarter. TD Asset Management Inc now owns 192,552 shares of the transportation company’s stock valued at $7,746,000 after purchasing an additional 3,059 shares in the last quarter. KBC Group NV lifted its stake in Delta Air Lines by 121.2% during the 4th quarter. KBC Group NV now owns 241,039 shares of the transportation company’s stock valued at $9,697,000 after acquiring an additional 132,057 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Delta Air Lines during the 4th quarter valued at $51,000. NEOS Investment Management LLC boosted its holdings in Delta Air Lines by 35.3% during the 4th quarter. NEOS Investment Management LLC now owns 9,102 shares of the transportation company’s stock worth $366,000 after acquiring an additional 2,376 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Delta Air Lines by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 84,843 shares of the transportation company’s stock worth $3,413,000 after acquiring an additional 3,476 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

About Delta Air Lines

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.