Delta Air Lines (DAL) Upgraded to Sell by Vetr

Delta Air Lines (NYSE:DAL) was upgraded by equities researchers at Vetr from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $49.97 price target on the transportation company’s stock. Vetr‘s target price would indicate a potential downside of 10.27% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Stephens set a $67.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research note on Monday, December 18th. Cowen raised their price objective on Delta Air Lines from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, JPMorgan Chase & Co. raised their price objective on Delta Air Lines from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $64.12.

Shares of Delta Air Lines (NYSE DAL) traded down $1.05 during midday trading on Wednesday, reaching $55.69. The company’s stock had a trading volume of 9,318,642 shares, compared to its average volume of 6,550,000. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.43. The firm has a market capitalization of $39,710.00, a P/E ratio of 11.16, a PEG ratio of 1.79 and a beta of 1.30. Delta Air Lines has a fifty-two week low of $43.81 and a fifty-two week high of $56.84.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. analysts expect that Delta Air Lines will post 4.89 EPS for the current year.

In related news, CEO Edward H. Bastian sold 159,240 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Sear sold 6,898 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $53.01, for a total value of $365,662.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,198 shares of company stock valued at $24,427,525. 0.37% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings 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 purchasing an additional 43,777,555 shares during the period. Winslow Capital Management LLC grew its holdings 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 purchasing an additional 4,535,724 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Delta Air Lines by 46.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,045,364 shares of the transportation company’s stock valued at $552,826,000 after purchasing an additional 4,427,357 shares during the period. Investec Asset Management LTD acquired a new stake in Delta Air Lines in the third quarter valued at approximately $157,977,000. Finally, Norges Bank acquired a new stake in shares of Delta Air Lines in the fourth quarter worth approximately $164,825,000. Institutional investors own 85.01% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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