Bank of America Increases Delta Air Lines (NYSE:DAL) Price Target to $60.00

Delta Air Lines (NYSE:DAL) had its price objective hoisted by research analysts at Bank of America from $55.00 to $60.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 16.89% from the stock’s previous close.

DAL has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. Susquehanna increased their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Sanford C. Bernstein increased their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays increased their price objective on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $65.40.

Delta Air Lines Stock Performance

DAL opened at $51.33 on Friday. The company has a market capitalization of $33.13 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. Delta Air Lines has a 1-year low of $30.60 and a 1-year high of $53.86. The business has a 50 day moving average price of $44.19 and a two-hundred day moving average price of $46.90.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $2.03 earnings per share. Research analysts predict that Delta Air Lines will post 6.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Delta Air Lines

A number of hedge funds have recently modified their holdings of the stock. Wesbanco Bank Inc. increased its stake in shares of Delta Air Lines by 25.0% in the third quarter. Wesbanco Bank Inc. now owns 156,171 shares of the transportation company’s stock worth $7,932,000 after acquiring an additional 31,233 shares during the last quarter. Grove Bank & Trust boosted its holdings in Delta Air Lines by 4.4% in the third quarter. Grove Bank & Trust now owns 15,318 shares of the transportation company’s stock worth $778,000 after purchasing an additional 641 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Delta Air Lines by 42.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,789 shares of the transportation company’s stock worth $193,000 after purchasing an additional 1,135 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Delta Air Lines by 9.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 210,416 shares of the transportation company’s stock worth $10,687,000 after purchasing an additional 17,557 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in Delta Air Lines by 13.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock worth $84,000 after purchasing an additional 200 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

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.