JPMorgan Chase & Co. Raises Delta Air Lines (NYSE:DAL) Price Target to $80.00

Delta Air Lines (NYSE:DAL) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $68.00 to $80.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 60.32% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group lifted their price target on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein lifted their target price on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. TD Cowen lowered their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Susquehanna increased their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average price target of $65.44.

Delta Air Lines Stock Down 0.8 %

DAL stock opened at $49.90 on Friday. The stock has a market cap of $32.21 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The firm’s 50-day simple moving average is $43.96 and its 200 day simple moving average is $46.85. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines in the third quarter worth approximately $25,000. Kimelman & Baird LLC acquired a new position in shares of Delta Air Lines during the 2nd quarter worth $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines during the 2nd quarter valued at $36,000. Rise Advisors LLC boosted its holdings in Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Delta Air Lines during the second quarter worth $40,000. 69.93% of the stock is owned by hedge funds and other 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.