Delta Air Lines Inc. (DAL) Price Target Raised to $48.00
Delta Air Lines Inc. (NYSE:DAL) had its price target raised by equities research analysts at Argus to $48.00 in a research note issued on Monday. Argus’ price target points to a potential upside of 21.06% from the stock’s current price.
Several other analysts have also weighed in on DAL. Zacks Investment Research downgraded Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Monday, June 20th. Cowen and Company reduced their target price on Delta Air Lines from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Credit Suisse Group AG increased their target price on Delta Air Lines from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 6th. Deutsche Bank AG upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 12th. Finally, Evercore ISI downgraded Delta Air Lines from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $50.00 in a research report on Friday, July 15th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $52.46.
Delta Air Lines (NYSE:DAL) traded down 1.52% during midday trading on Monday, reaching $39.43. 7,829,988 shares of the company were exchanged. The company has a 50 day moving average of $38.38 and a 200-day moving average of $40.34. Delta Air Lines has a 52-week low of $32.60 and a 52-week high of $52.77. The company has a market capitalization of $29.89 billion, a price-to-earnings ratio of 6.42 and a beta of 0.95.
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Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 13th. The company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.05. Delta Air Lines had a return on equity of 37.39% and a net margin of 11.92%. The business earned $10.48 billion during the quarter. During the same quarter last year, the company earned $1.74 EPS. Delta Air Lines’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Delta Air Lines will post $5.70 earnings per share for the current fiscal year.
In related news, Director George N. Mattson bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $36.50 per share, for a total transaction of $365,000.00. Following the acquisition, the director now directly owns 54,750 shares of the company’s stock, valued at approximately $1,998,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average price of $38.91 per share, for a total transaction of $972,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 328,631 shares in the company, valued at $12,787,032.21. The disclosure for this purchase can be found here. Company insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of DAL. Adage Capital Partners GP L.L.C. boosted its stake in Delta Air Lines by 74.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 7,142,571 shares of the company’s stock worth $347,700,000 after buying an additional 3,037,891 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Delta Air Lines during the second quarter worth about $91,336,000. RidgeWorth Capital Management LLC boosted its stake in Delta Air Lines by 181.6% in the second quarter. RidgeWorth Capital Management LLC now owns 3,189,431 shares of the company’s stock worth $117,275,000 after buying an additional 2,056,771 shares during the last quarter. Janus Capital Management LLC boosted its stake in Delta Air Lines by 86.5% in the second quarter. Janus Capital Management LLC now owns 2,958,659 shares of the company’s stock worth $107,784,000 after buying an additional 1,372,630 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Delta Air Lines by 3.1% in the second quarter. Vanguard Group Inc. now owns 45,834,437 shares of the company’s stock worth $1,669,748,000 after buying an additional 1,365,714 shares during the last quarter. Institutional investors and hedge funds own 84.49% 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.
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