Delta Air Lines (NYSE:DAL) Reaches New 1-Year High – Here’s What Happened

Shares of Delta Air Lines, Inc. (NYSE:DAL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $72.34 and last traded at $71.2660, with a volume of 10438393 shares. The stock had previously closed at $71.27.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DAL shares. BNP Paribas Exane raised their target price on Delta Air Lines from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Raymond James Financial raised their price target on Delta Air Lines from $68.00 to $70.00 and gave the company a “strong-buy” rating in a report on Friday, October 10th. Susquehanna upped their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “positive” rating in a report on Friday, October 10th. HSBC increased their target price on shares of Delta Air Lines from $69.20 to $73.70 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Delta Air Lines in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $74.08.

Delta Air Lines Price Performance

The stock has a 50 day moving average of $61.49 and a two-hundred day moving average of $57.42. The firm has a market capitalization of $46.53 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The firm had revenue of $8.40 billion for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were given a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.1%. Delta Air Lines’s payout ratio is presently 10.56%.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the sale, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. This represents a 22.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president owned 15,816 shares of the company’s stock, valued at $968,730. The trade was a 46.97% decrease in their position. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Delta Air Lines

Several hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP lifted its holdings in Delta Air Lines by 114.8% during the 3rd quarter. Mirabella Financial Services LLP now owns 41,137 shares of the transportation company’s stock worth $2,330,000 after buying an additional 21,989 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Delta Air Lines during the third quarter worth $1,044,000. Swiss Life Asset Management Ltd lifted its stake in shares of Delta Air Lines by 9.4% during the third quarter. Swiss Life Asset Management Ltd now owns 25,160 shares of the transportation company’s stock valued at $1,428,000 after acquiring an additional 2,153 shares during the period. Investment Research Partners LLC acquired a new position in shares of Delta Air Lines during the third quarter valued at $295,000. Finally, Strategic Advocates LLC bought a new position in Delta Air Lines in the third quarter valued at about $139,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.