Delta Air Lines Inc. (DAL) Lowered to “Hold” at Vetr Inc.
Delta Air Lines Inc. (NYSE:DAL) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a $40.40 price target on the stock. Vetr‘s price target indicates a potential upside of 0.97% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Sanford C. Bernstein began coverage on Delta Air Lines in a report on Tuesday. They set a “market perform” rating and a $43.00 target price on the stock. Bank of America Corp. set a $60.00 price objective on Delta Air Lines and gave the company a “buy” rating in a report on Tuesday, October 4th. Buckingham Research set a $54.00 price objective on Delta Air Lines and gave the company a “buy” rating in a report on Wednesday, October 5th. Credit Suisse Group AG reiterated a “buy” rating and set a $52.00 price objective on shares of Delta Air Lines in a report on Tuesday, September 13th. Finally, Zacks Investment Research upgraded Delta Air Lines from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 6th. 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 an average price target of $52.99.
Shares of Delta Air Lines (NYSE:DAL) traded up 1.88% during midday trading on Thursday, reaching $40.01. The company’s stock had a trading volume of 24,274,131 shares. The company has a 50-day moving average price of $38.28 and a 200-day moving average price of $40.40. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 6.52 and a beta of 0.95. Delta Air Lines has a 12 month low of $32.60 and a 12 month high of $52.77.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/delta-air-lines-inc-dal-lowered-to-hold-at-vetr-inc.html
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 13th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.05. Delta Air Lines had a return on equity of 40.31% and a net margin of 11.88%. The firm had revenue of $10.48 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. Equities analysts expect that Delta Air Lines will post $5.70 earnings per share for the current year.
In related news, Chairman Richard H. Anderson sold 758,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $40.07, for a total value of $30,373,060.00. Following the completion of the sale, the chairman now directly owns 743,827 shares in the company, valued at approximately $29,805,147.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven M. Sear sold 4,670 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $37.18, for a total value of $173,630.60. Following the completion of the sale, the executive vice president now owns 52,173 shares of the company’s stock, valued at $1,939,792.14. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in DAL. Archford Capital Strategies LLC increased its stake in Delta Air Lines by 3,152.4% in the second quarter. Archford Capital Strategies LLC now owns 2,732 shares of the company’s stock valued at $100,000 after buying an additional 2,648 shares during the period. Capital Guardian Trust Co. increased its stake in Delta Air Lines by 168.2% in the second quarter. Capital Guardian Trust Co. now owns 3,189 shares of the company’s stock valued at $116,000 after buying an additional 2,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Delta Air Lines during the second quarter valued at about $124,000. Daiwa SB Investments Ltd. increased its stake in Delta Air Lines by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 3,530 shares of the company’s stock valued at $128,000 after buying an additional 280 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Delta Air Lines by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 4,211 shares of the company’s stock valued at $150,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds 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.
Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.