Delta Air Lines Inc. (DAL) Shares Gap Up to $36.37
Delta Air Lines Inc. (NYSE:DAL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $35.99, but opened at $36.37. Delta Air Lines shares last traded at $37.67, with a volume of 6,337,134 shares changing hands.
Several equities analysts recently commented on the company. Credit Suisse Group AG upped their price objective on Delta Air Lines from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday. Cowen and Company dropped their target price on Delta Air Lines from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday. Zacks Investment Research upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Raymond James Financial Inc. restated an “outperform” rating on shares of Delta Air Lines in a research report on Wednesday, June 15th. Finally, Morgan Stanley restated a “buy” rating on shares of Delta Air Lines in a research report on Friday, June 10th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.26.
The stock’s 50-day moving average price is $39.57 and its 200 day moving average price is $44.63. The company has a market cap of $28.92 billion and a PE ratio of 6.26.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, April 14th. The company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. During the same quarter in the prior year, the business earned $0.45 EPS. The business had revenue of $9.25 billion for the quarter, compared to analysts’ expectations of $9.24 billion. The company’s revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Delta Air Lines Inc. will post $5.94 EPS for the current fiscal year.
In other news, CEO Richard H. Anderson sold 123,704 shares of Delta Air Lines stock in a transaction on Friday, April 15th. The shares were sold at an average price of $47.43, for a total transaction of $5,867,280.72. Following the transaction, the chief executive officer now owns 326,708 shares in the company, valued at approximately $15,495,760.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter W. Carter purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were acquired at an average price of $41.42 per share, for a total transaction of $103,550.00. Following the purchase, the executive vice president now directly owns 89,580 shares in the company, valued at $3,710,403.60. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in Delta Air Lines by 716.4% in the fourth quarter. First Trust Advisors LP now owns 413,262 shares of the company’s stock worth $20,948,000 after buying an additional 362,641 shares during the period. ProShare Advisors LLC boosted its position in Delta Air Lines by 5.1% in the fourth quarter. ProShare Advisors LLC now owns 114,643 shares of the company’s stock worth $5,811,000 after buying an additional 5,572 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Delta Air Lines during the fourth quarter worth $3,386,000. Bradley Foster & Sargent Inc. CT boosted its position in Delta Air Lines by 22.5% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 46,007 shares of the company’s stock worth $2,332,000 after buying an additional 8,449 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in Delta Air Lines by 10.0% in the fourth quarter. OppenheimerFunds Inc. now owns 495,679 shares of the company’s stock worth $25,148,000 after buying an additional 45,082 shares during the period.
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
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