Delta Air Lines Receives Consensus Rating of “Buy” from Brokerages (NYSE:DAL)
Shares of Delta Air Lines (NYSE:DAL) have earned a consensus recommendation of “Buy” from the sixteen ratings firms that are presently covering the company, American Banking News reports. Two analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.60.
In other Delta Air Lines news, VP Craig M. Meynard unloaded 6,300 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $40.01, for a total value of $252,063.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DAL has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Delta Air Lines in a research note on Wednesday, August 6th. They now have a $38.00 price target on the stock. Separately, analysts at CRT Capital raised their price target on shares of Delta Air Lines from $43.00 to $47.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Delta Air Lines in a research note on Thursday, July 24th. They now have a $48.00 price target on the stock, up previously from $46.00.
Shares of Delta Air Lines (NYSE:DAL) traded down 4.52% on Wednesday, hitting $39.0799. 9,015,088 shares of the company’s stock traded hands. Delta Air Lines has a 52-week low of $19.75 and a 52-week high of $42.66. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $36.95. The company has a market cap of $32.866 billion and a price-to-earnings ratio of 3.22. Delta Air Lines also was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 17,936,033 shares, a growth of 21.7% from the July 31st total of 14,739,421 shares. Based on an average daily volume of 10,866,364 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.1% of the company’s shares are short sold.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, July 23rd. The company reported $1.04 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.04. The company had revenue of $10.62 billion for the quarter, compared to the consensus estimate of $10.65 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Delta Air Lines will post $3.25 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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