Delta Air Lines, Inc. (DAL) Earns “Overweight” Rating from Morgan Stanley
Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $57.00 price objective on the transportation company’s stock, up from their prior price objective of $56.00. Morgan Stanley’s price objective suggests a potential upside of 10.55% from the stock’s current price.
A number of other research analysts also recently issued reports on the stock. Deutsche Bank AG restated a “buy” rating and set a $62.00 price target (up previously from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. Imperial Capital reissued a “hold” rating and set a $50.00 target price on shares of Delta Air Lines in a research note on Wednesday, September 6th. J P Morgan Chase & Co reissued an “overweight” rating and set a $63.00 target price (down from $67.00) on shares of Delta Air Lines in a research note on Wednesday, September 27th. Finally, Vetr upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 target price for the company in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.47.
Delta Air Lines (DAL) traded up 0.60% on Wednesday, reaching $51.56. The company had a trading volume of 8,263,992 shares. The firm has a market capitalization of $37.54 billion, a PE ratio of 10.22 and a beta of 1.24. Delta Air Lines has a 12 month low of $37.91 and a 12 month high of $55.75. The stock has a 50 day moving average of $47.87 and a 200 day moving average of $49.18.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the business posted $1.47 EPS. Delta Air Lines’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Delta Air Lines will post $5.12 EPS for the current year.
In other Delta Air Lines news, President Glen W. Hauenstein sold 67,000 shares of the business’s 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 sale, the president now directly owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. In the last three months, insiders purchased 141,000 shares of company stock worth $283,440 and sold 75,700 shares worth $4,171,150. Company insiders own 0.37% of the company’s stock.
Hedge funds have recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in Delta Air Lines during the first quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $114,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Delta Air Lines by 40.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares in the last quarter. Ruggie Capital Group lifted its position in Delta Air Lines by 1,187.0% in the 1st quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock worth $127,000 after buying an additional 2,552 shares in the last quarter. Finally, BB&T Investment Services Inc. purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $128,000. Institutional investors and hedge funds own 86.26% 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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