Delta Air Lines (NYSE:DAL) PT Raised to $55.00 at Bank of America

Delta Air Lines (NYSE:DAL) had its price objective hoisted by analysts at Bank of America from $53.00 to $55.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target suggests a potential upside of 17.37% from the company’s previous close.

A number of other equities analysts have also weighed in on DAL. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. TheStreet raised Delta Air Lines from a “c+” rating to a “b-” rating in a research note on Thursday, January 4th. Susquehanna upped their price objective on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday. Morgan Stanley upped their price objective on Delta Air Lines from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, UBS Group initiated coverage on Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $58.29.

Delta Air Lines Stock Performance

NYSE:DAL opened at $46.86 on Thursday. The stock has a 50-day simple moving average of $43.44 and a two-hundred day simple moving average of $39.35. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $49.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.34 and a current ratio of 0.41. The firm has a market capitalization of $30.15 billion, a PE ratio of 6.02, a P/E/G ratio of 0.70 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Delta Air Lines’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Delta Air Lines will post 6.51 EPS for the current year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 71,840 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the sale, the chief executive officer now directly owns 428,768 shares in the company, valued at $16,807,705.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Delta Air Lines by 1.9% in the first quarter. Vanguard Group Inc. now owns 68,234,306 shares of the transportation company’s stock worth $2,700,032,000 after purchasing an additional 1,267,578 shares in the last quarter. State Street Corp grew its stake in Delta Air Lines by 2.8% in the first quarter. State Street Corp now owns 21,652,643 shares of the transportation company’s stock worth $756,110,000 after purchasing an additional 579,727 shares in the last quarter. Capital International Investors grew its stake in Delta Air Lines by 8.8% in the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after purchasing an additional 1,689,053 shares in the last quarter. Capital World Investors grew its stake in Delta Air Lines by 0.5% in the fourth quarter. Capital World Investors now owns 14,981,124 shares of the transportation company’s stock worth $602,691,000 after purchasing an additional 79,818 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Delta Air Lines by 2.7% in the first quarter. Geode Capital Management LLC now owns 13,168,804 shares of the transportation company’s stock worth $459,144,000 after purchasing an additional 351,286 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

About Delta Air Lines

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.