Delta Air Lines, Inc. (DAL) Cut to “Sell” at BidaskClub
Delta Air Lines, Inc. (NYSE:DAL) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other brokerages have also recently commented on DAL. Bank of America Corp upped their target price on shares of Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a report on Friday, June 30th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Delta Air Lines in a report on Friday, May 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a report on Thursday, July 13th. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, Citigroup Inc. upped their target price on shares of Delta Air Lines from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $62.16.
Delta Air Lines (NYSE DAL) traded up 3.25% during mid-day trading on Friday, hitting $46.68. The company had a trading volume of 13,938,819 shares. The company’s 50 day moving average price is $50.82 and its 200-day moving average price is $49.40. The firm has a market capitalization of $33.98 billion, a PE ratio of 9.25 and a beta of 1.20. Delta Air Lines has a 12-month low of $36.02 and a 12-month high of $55.75. Delta Air Lines also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 12,043 put options on the stock. This is an increase of 131% compared to the typical volume of 5,215 put 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 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 company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. 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 EPS for the current fiscal year.
In other Delta Air Lines news, Director George N. Mattson acquired 6,000 shares of the stock in a transaction on Thursday, August 24th. The stock was acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now directly owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the transaction, the president now owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 383,000 shares of company stock valued at $302,800 and have sold 75,700 shares valued at $4,171,150. 0.37% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock valued at $2,080,189,000 after buying an additional 43,777,555 shares during the period. Winslow Capital Management LLC raised its position in Delta Air Lines by 5,815,030.8% in the first quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock valued at $208,465,000 after buying an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP raised its position in Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock valued at $323,542,000 after buying an additional 3,245,791 shares during the period. Sound Shore Management Inc. CT acquired a new position in Delta Air Lines during the second quarter valued at approximately $158,224,000. Finally, TIAA CREF Investment Management LLC raised its position in Delta Air Lines by 77.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock valued at $288,312,000 after buying an additional 2,343,531 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.
About Delta Air Lines
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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