Delta Air Lines (NYSE:DAL) Price Target Raised to $77.00

Delta Air Lines (NYSE:DAL) had its target price hoisted by TD Cowen from $72.00 to $77.00 in a report published on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the transportation company’s stock.

DAL has been the topic of a number of other research reports. Dbs Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Wolfe Research lowered their target price on shares of Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, November 17th. Evercore ISI boosted their price target on Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Citigroup initiated coverage on Delta Air Lines in a research note on Thursday. They issued a “buy” rating and a $77.00 target price on the stock. Finally, Rothschild & Co Redburn lifted their price target on Delta Air Lines from $65.00 to $72.00 in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $72.37.

Delta Air Lines Trading Down 0.1%

Shares of NYSE DAL opened at $67.20 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $59.74 and a two-hundred day simple moving average of $56.32. The firm has a market cap of $43.88 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.38. Delta Air Lines has a twelve month low of $34.74 and a twelve month high of $69.98.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The company had revenue of $8.40 billion during the quarter. Analysts expect that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Thursday, October 16th were given a dividend of $0.1875 per share. The ex-dividend date was Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Insider Activity

In other news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John E. Laughter sold 23,323 shares of the stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the completion of the sale, the executive vice president directly owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. This trade represents a 22.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter valued at $25,000. AlphaQuest LLC increased its holdings in Delta Air Lines by 90.6% during the 3rd quarter. AlphaQuest LLC now owns 444 shares of the transportation company’s stock worth $25,000 after purchasing an additional 211 shares during the period. NewSquare Capital LLC raised its holdings in Delta Air Lines by 184.6% in the second quarter. NewSquare Capital LLC now owns 572 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 371 shares in the last quarter. Accredited Wealth Management LLC increased its holdings in Delta Air Lines by 1,983.3% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock valued at $28,000 after buying an additional 476 shares during the last quarter. Finally, Activest Wealth Management increased its holdings in Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after buying an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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.