Delta Air Lines, Inc. (DAL) Price Target Cut to $59.00 by Analysts at Morgan Stanley
Delta Air Lines, Inc. (NYSE:DAL) had its target price dropped by stock analysts at Morgan Stanley from $62.00 to $59.00 in a report released on Thursday. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price target suggests a potential upside of 24.13% from the company’s current price.
DAL has been the subject of several other research reports. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Vetr raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 price objective for the company in a research note on Tuesday, July 25th. BidaskClub lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $58.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Finally, Atlantic Securities started coverage on shares of Delta Air Lines in a research note on Tuesday, June 20th. They issued an “overweight” rating and a $68.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Delta Air Lines currently has a consensus rating of “Buy” and a consensus target price of $60.56.
Shares of Delta Air Lines (NYSE:DAL) traded down 5.19% on Thursday, hitting $47.53. The company had a trading volume of 12,026,489 shares. The company has a 50 day moving average of $52.16 and a 200-day moving average of $49.45. Delta Air Lines has a 12-month low of $35.90 and a 12-month high of $55.75. The company has a market cap of $34.60 billion, a price-to-earnings ratio of 9.42 and a beta of 1.20. Delta Air Lines also was the target of some unusual options trading activity on Wednesday. Traders bought 20,043 call options on the stock. This represents an increase of 109% compared to the typical daily volume of 9,579 call options.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the firm posted $1.47 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Delta Air Lines will post $5.12 earnings per share for the current year.
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In other Delta Air Lines news, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the sale, the vice president now directly owns 7,437 shares of the company’s stock, valued at $410,968.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joanne D. Smith sold 3,700 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the sale, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The disclosure for this sale can be found here. In the last three months, insiders purchased 384,000 shares of company stock worth $30,720 and sold 126,831 shares worth $6,703,732. Insiders own 0.37% of the company’s stock.
A number of hedge funds have recently modified their holdings of DAL. FNY Managed Accounts LLC purchased a new stake in shares of Delta Air Lines during the first quarter valued at $100,000. TrimTabs Asset Management LLC boosted its stake in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Delta Air Lines during the first quarter valued at $114,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Delta Air Lines during the second quarter valued at $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after buying an additional 793 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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