Cowen Raises Delta Air Lines (DAL) Price Target to $66.00
Delta Air Lines (NYSE:DAL) had its price target upped by research analysts at Cowen from $62.00 to $66.00 in a report released on Friday. The brokerage presently has an “outperform” rating on the transportation company’s stock. Cowen’s target price indicates a potential upside of 19.46% from the stock’s current price.
DAL has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating on shares of Delta Air Lines in a report on Tuesday, September 12th. BidaskClub downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 25th. UBS reiterated a “buy” rating and issued a $62.00 price objective (down from $65.00) on shares of Delta Air Lines in a report on Saturday, September 30th. Zacks Investment Research upgraded shares of Delta Air Lines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Vetr downgraded shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 price objective on the stock. in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $63.64.
Delta Air Lines (NYSE DAL) opened at $55.25 on Friday. The firm has a market cap of $38,236.75, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.63 and a beta of 1.29. Delta Air Lines has a fifty-two week low of $43.81 and a fifty-two week high of $55.75. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.04. The business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.70 earnings per share. analysts anticipate that Delta Air Lines will post 5 EPS for the current year.
In related news, insider Steven M. Sear sold 6,898 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.01, for a total transaction of $365,662.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. In the last three months, insiders sold 239,810 shares of company stock valued at $12,684,903. 0.37% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new stake in Delta Air Lines during the third quarter worth about $492,000. GSA Capital Partners LLP bought a new stake in Delta Air Lines during the third quarter worth about $534,000. Cetera Advisor Networks LLC lifted its position in Delta Air Lines by 4.4% during the third quarter. Cetera Advisor Networks LLC now owns 26,082 shares of the transportation company’s stock worth $1,258,000 after purchasing an additional 1,101 shares during the period. IFM Investors Pty Ltd bought a new stake in Delta Air Lines during the third quarter worth about $269,000. Finally, Independent Advisor Alliance lifted its position in Delta Air Lines by 16.1% during the third quarter. Independent Advisor Alliance now owns 12,299 shares of the transportation company’s stock worth $636,000 after purchasing an additional 1,702 shares during the period. 85.24% of the stock is owned by institutional investors and hedge funds.
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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.