Delta Air Lines (NYSE:DAL) Price Target Cut to $105.00 by Analysts at TD Cowen

Delta Air Lines (NYSE:DAL) had its price objective decreased by TD Cowen from $112.00 to $105.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price indicates a potential upside of 26.59% from the stock’s previous close.

Several other research analysts also recently weighed in on DAL. The Goldman Sachs Group restated a “buy” rating on shares of Delta Air Lines in a research note on Monday, August 3rd. Evercore lifted their price objective on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of Delta Air Lines from $85.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Bank of America upped their target price on shares of Delta Air Lines from $93.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Susquehanna raised their target price on shares of Delta Air Lines from $78.00 to $108.00 and gave the company a “positive” rating in a research note on Tuesday, July 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.10.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock traded up $0.54 during trading hours on Monday, hitting $82.95. The company’s stock had a trading volume of 950,835 shares, compared to its average volume of 8,930,198. The business has a 50 day moving average price of $87.86 and a two-hundred day moving average price of $76.30. Delta Air Lines has a 12-month low of $55.03 and a 12-month high of $95.68. The company has a market cap of $54.55 billion, a PE ratio of 13.76, a PEG ratio of 1.08 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The firm had revenue of $17.67 billion during the quarter, compared to analysts’ expectations of $17.43 billion. During the same quarter last year, the business posted $2.10 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. Analysts expect that Delta Air Lines will post 6.54 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Steven M. Sear sold 40,460 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the sale, the executive vice president owned 104,404 shares of the company’s stock, valued at $9,766,994.20. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David G. Dewalt sold 31,756 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $90.85, for a total transaction of $2,885,032.60. Following the transaction, the director owned 22,358 shares of the company’s stock, valued at $2,031,224.30. This trade represents a 58.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 386,726 shares of company stock worth $35,512,037. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Delta Air Lines

A number of large investors have recently made changes to their positions in DAL. Markowski Investments purchased a new position in Delta Air Lines in the second quarter worth about $27,000. Lloyd Advisory Services LLC. purchased a new stake in Delta Air Lines during the fourth quarter valued at approximately $31,000. Timbuktu Capital Management LLC purchased a new stake in Delta Air Lines during the second quarter valued at approximately $31,000. SWAN Capital LLC lifted its stake in shares of Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 508 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $34,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.