Short Interest in Delta Air Lines Declines By 21.1% (DAL)
Shares of Delta Air Lines (NYSE:DAL) were the target of a large decrease in short interest in the month of May. As of May 30th, there was short interest totalling 13,271,497 shares, a decrease of 21.1% from the May 15th total of 16,827,150 shares, American Banking News reports. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 7,960,618 shares, the days-to-cover ratio is presently 1.7 days.
A number of research firms have recently commented on DAL. Analysts at Barclays raised their price target on shares of Delta Air Lines from $40.00 to $48.00 in a research note on Tuesday, June 10th. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Delta Air Lines in a research note on Tuesday, June 10th. They now have a $48.00 price target on the stock, up previously from $40.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Delta Air Lines in a research note on Friday, May 9th. They now have a $48.00 price target on the stock, up previously from $47.00. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.40.
Delta Air Lines (NYSE:DAL) opened at 39.07 on Tuesday. Delta Air Lines has a 52-week low of $17.57 and a 52-week high of $42.66. The stock has a 50-day moving average of $39.40 and a 200-day moving average of $33.94. The company has a market cap of $32.975 billion and a price-to-earnings ratio of 3.16.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, April 23rd. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.04. The company had revenue of $8.92 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the company posted $0.10 earnings per share. Delta Air Lines’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Delta Air Lines will post $3.07 earnings per share 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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