Investors Purchase Large Volume of Call Options on Delta Air Lines (DAL)
Shares of Delta Air Lines (NYSE:DAL) was the recipient of unusually large options trading on Thursday. Stock traders purchased 20,033 call options on the stock, American Banking and Market News reports. This represents an increase of approximately 176% compared to the typical volume of 7,266 call options.
DAL has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Delta Air Lines (NYSE:DAL) from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, August 14th. They now have a $22.00 price target on the stock, down previously from $25.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Delta Air Lines (NYSE:DAL) in a research note to investors on Tuesday, August 6th. They now have a $23.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Delta Air Lines (NYSE:DAL) in a research note to investors on Thursday, July 25th. They now have a $20.00 price target on the stock, down previously from $25.00.
Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and an average target price of $22.64.
Shares of Delta Air Lines (NYSE:DAL) traded up 0.50% during mid-day trading on Friday, hitting $22.28. 4,471,644 shares of the company’s stock traded hands. Delta Air Lines has a one year low of $8.89 and a one year high of $23.13. The stock has a 50-day moving average of $20.59 and a 200-day moving average of $18.16. The company has a market cap of $18.938 billion and a P/E ratio of 10.86.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.04. The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Analysts expect that Delta Air Lines will post $2.79 EPS for the current fiscal year.
Delta Air Lines, Inc (NYSE:DAL) provides scheduled air transportation for passengers and cargo throughout the United States and around the world.
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