Delta Air Lines Inc. (DAL) Downgraded to “Hold” at Vetr Inc.
Delta Air Lines Inc. (NYSE:DAL) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They presently have a $40.40 price objective on the stock. Vetr‘s price objective indicates a potential upside of 0.97% from the company’s current price.
Several other research analysts have also recently issued reports on DAL. Piper Jaffray Cos. set a $35.00 target price on Delta Air Lines and gave the company a “buy” rating in a research report on Sunday, August 21st. Raymond James Financial Inc. reiterated an “outperform” rating on shares of Delta Air Lines in a report on Wednesday, June 15th. Argus reiterated a “buy” rating and set a $60.00 price target on shares of Delta Air Lines in a report on Friday, July 15th. Bank of America Corp. set a $60.00 price target on Delta Air Lines and gave the stock a “buy” rating in a report on Tuesday, October 4th. Finally, JPMorgan Chase & Co. dropped their price target on Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.99.
Shares of Delta Air Lines (NYSE:DAL) traded up 1.88% during trading on Thursday, reaching $40.01. The company’s stock had a trading volume of 24,274,131 shares. The stock’s 50 day moving average price is $38.28 and its 200 day moving average price is $40.40. The company has a market cap of $30.33 billion, a PE ratio of 6.52 and a beta of 0.95. Delta Air Lines has a 52 week low of $32.60 and a 52 week high of $52.77.
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Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, October 13th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.05. The company had revenue of $10.48 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Delta Air Lines had a return on equity of 40.31% and a net margin of 11.88%. Delta Air Lines’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Equities research analysts predict that Delta Air Lines will post $5.70 EPS for the current year.
In other news, EVP Steven M. Sear sold 4,670 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $37.18, for a total value of $173,630.60. Following the completion of the transaction, the executive vice president now directly owns 52,173 shares in the company, valued at approximately $1,939,792.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Sear sold 4,671 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $40.16, for a total value of $187,587.36. Following the completion of the transaction, the insider now owns 52,174 shares of the company’s stock, valued at $2,095,307.84. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Private Trust Co. NA boosted its position in Delta Air Lines by 2.2% in the third quarter. Private Trust Co. NA now owns 13,369 shares of the company’s stock worth $526,000 after buying an additional 288 shares during the last quarter. MSI Financial Services Inc boosted its position in Delta Air Lines by 5.6% in the third quarter. MSI Financial Services Inc now owns 32,506 shares of the company’s stock worth $1,279,000 after buying an additional 1,728 shares during the last quarter. Patten & Patten Inc. TN boosted its position in Delta Air Lines by 12.6% in the third quarter. Patten & Patten Inc. TN now owns 274,811 shares of the company’s stock worth $10,817,000 after buying an additional 30,683 shares during the last quarter. CenturyLink Investment Management Co purchased a new position in Delta Air Lines during the third quarter worth about $1,438,000. Finally, Fox Run Management L.L.C. purchased a new position in Delta Air Lines during the third quarter worth about $315,000. Hedge funds and other institutional investors own 84.51% of the company’s stock.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
To view Vetr’s full report, visit Vetr’s official website.
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