Delta Air Lines, Inc. (DAL) Stock Rating Reaffirmed by Imperial Capital
Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “hold” rating reaffirmed by investment analysts at Imperial Capital in a note issued to investors on Wednesday. They presently have a $50.00 target price on the transportation company’s stock. Imperial Capital’s price objective would indicate a potential upside of 5.37% from the stock’s current price. Imperial Capital also issued estimates for Delta Air Lines’ Q3 2017 earnings at $1.53 EPS, Q4 2017 earnings at $1.11 EPS, FY2017 earnings at $5.05 EPS and FY2018 earnings at $5.50 EPS.
Several other equities research analysts have also recently weighed in on the stock. Cowen and Company reissued a “buy” rating and set a $60.00 price target on shares of Delta Air Lines in a research report on Tuesday, September 5th. BidaskClub cut shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research cut shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. Wolfe Research raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their target price on shares of Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.34.
Delta Air Lines (NYSE DAL) traded up 0.70% during trading on Wednesday, reaching $47.45. 6,110,712 shares of the company traded hands. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 9.41 and a beta of 1.25. The firm’s 50 day moving average price is $48.78 and its 200 day moving average price is $49.23. Delta Air Lines has a 12-month low of $36.59 and a 12-month high of $55.75.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 EPS. Equities research analysts expect 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 Delta Air Lines stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the transaction, the vice president now 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 the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at approximately $4,170,042. The disclosure for this sale can be found here. In the last three months, insiders purchased 335,000 shares of company stock worth $298,960 and sold 75,700 shares worth $4,171,150. Company insiders own 0.37% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its holdings in shares of Delta Air Lines by 40.9% in the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after buying an additional 220 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Delta Air Lines in the second quarter worth $114,000. FNY Managed Accounts LLC purchased a new position in shares of Delta Air Lines in the first quarter worth $100,000. TrimTabs Asset Management LLC lifted its holdings 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 worth $111,000 after buying an additional 1,136 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Delta Air Lines in the first quarter worth $114,000. 86.49% of the stock is currently owned by hedge funds and other institutional investors.
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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