Delta Air Lines (NYSE:DAL) Sets New 12-Month High on Analyst Upgrade

Delta Air Lines, Inc. (NYSE:DAL)’s stock price reached a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $59.00 to $75.00. TD Cowen currently has a buy rating on the stock. Delta Air Lines traded as high as $64.10 and last traded at $63.89, with a volume of 551076 shares trading hands. The stock had previously closed at $63.56.

DAL has been the subject of several other research reports. Sanford C. Bernstein increased their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Barclays increased their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group raised their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Susquehanna raised their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $67.73.

Insider Activity at Delta Air Lines

In other news, EVP Allison C. Ausband sold 7,510 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the sale, the executive vice president now owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the sale, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,710 shares of company stock worth $6,739,745. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Delta Air Lines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in shares of Delta Air Lines during the second quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of Delta Air Lines during the third quarter valued at approximately $31,000. Strategic Financial Concepts LLC acquired a new stake in shares of Delta Air Lines during the second quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines during the second quarter valued at approximately $40,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

The stock’s fifty day moving average price is $51.29 and its 200-day moving average price is $48.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 EPS. Equities research analysts predict that Delta Air Lines, Inc. will post 6.12 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. Delta Air Lines’s payout ratio is presently 8.33%.

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.