Delta Air Lines (NYSE:DAL) Sets New 52-Week High on Analyst Upgrade

Delta Air Lines, Inc. (NYSE:DAL)’s share price reached a new 52-week high on Thursday after TD Cowen raised their price target on the stock from $84.00 to $92.00. TD Cowen currently has a buy rating on the stock. Delta Air Lines traded as high as $83.76 and last traded at $81.6640, with a volume of 11963399 shares. The stock had previously closed at $79.39.

DAL has been the subject of a number of other research reports. Wells Fargo & Company reduced their target price on shares of Delta Air Lines from $87.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. HSBC dropped their price objective on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Zacks Research raised Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Raymond James Financial raised their target price on Delta Air Lines from $76.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 9th. Finally, Jefferies Financial Group raised their target price on Delta Air Lines from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.22.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John E. Laughter sold 15,000 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total value of $1,074,150.00. Following the sale, the executive vice president directly owned 54,369 shares in the company, valued at $3,893,364.09. This trade represents a 21.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 149,635 shares of company stock valued at $10,833,855. Company insiders own 0.80% of the company’s stock.

Key Headlines Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: TD Cowen raised its price target on Delta Air Lines from $84 to $92 and reiterated a buy rating, reinforcing expectations for further upside in the shares. TD Cowen price target update
• Positive Sentiment: Airline stocks are benefiting from strong travel demand and a more favorable fuel-cost backdrop as oil prices have eased from recent highs, which can help Delta’s margins. Air travel demand and airfare article
• Positive Sentiment: Recent market coverage highlighted that Delta shares have been supported by analyst upgrades and higher price targets, reflecting improving confidence in the company’s earnings outlook. Delta stock is up article
• Neutral Sentiment: Delta’s CEO defended the carrier’s choice of Amazon’s in-flight Wi-Fi service over SpaceX Starlink, a strategic decision that may matter competitively but is not an immediate financial catalyst. Delta Wi-Fi strategy article
• Negative Sentiment: Two recent insider sales by Delta executives, including EVP Allison Ausband and EVP Alain Bellemare, may modestly pressure sentiment even though insider selling is not always a fundamental red flag. Ausband SEC filing Bellemare SEC filing

Hedge Funds Weigh In On Delta Air Lines

A number of large investors have recently bought and sold shares of DAL. IFM Investors Pty Ltd grew its holdings in shares of Delta Air Lines by 0.5% in the fourth quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company’s stock worth $1,955,000 after purchasing an additional 144 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of Delta Air Lines by 0.3% in the fourth quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company’s stock worth $3,652,000 after purchasing an additional 144 shares during the last quarter. First Financial Bank Trust Division grew its holdings in shares of Delta Air Lines by 3.3% in the fourth quarter. First Financial Bank Trust Division now owns 4,721 shares of the transportation company’s stock worth $328,000 after purchasing an additional 150 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Delta Air Lines by 2.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company’s stock worth $454,000 after purchasing an additional 151 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Delta Air Lines by 2.4% in the fourth quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company’s stock worth $449,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $54.20 billion, a P/E ratio of 12.03, a PEG ratio of 1.19 and a beta of 1.25. The firm’s fifty day moving average price is $70.15 and its 200-day moving average price is $67.99.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Analysts forecast that Delta Air Lines, Inc. will post 5.26 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.75 annualized dividend and a yield of 0.9%. Delta Air Lines’s dividend payout ratio is 10.93%.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.