Delta Air Lines (NYSE:DAL) Price Target Raised to $61.00 at TD Cowen

Delta Air Lines (NYSE:DAL) had its target price raised by TD Cowen from $55.00 to $61.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other research analysts also recently issued reports on DAL. Jefferies Financial Group decreased their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a buy rating for the company in a research note on Friday, June 28th. HSBC started coverage on shares of Delta Air Lines in a report on Monday, May 13th. They issued a buy rating and a $72.80 target price on the stock. Susquehanna upped their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a research report on Tuesday, April 9th. Citigroup increased their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a buy rating in a report on Wednesday, May 29th. Finally, Morgan Stanley reiterated an overweight rating and issued a $85.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $60.30.

Delta Air Lines Stock Performance

DAL opened at $46.71 on Tuesday. The firm’s fifty day simple moving average is $50.59 and its two-hundred day simple moving average is $45.23. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 0.70 and a beta of 1.35. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period last year, the business earned $0.25 earnings per share. Delta Air Lines’s revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Delta Air Lines will post 6.61 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be paid a dividend of $0.15 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio is currently 7.71%.

Insider Transactions at Delta Air Lines

In related news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the transaction, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total value of $1,176,206.78. Following the completion of the transaction, the executive vice president now directly owns 141,451 shares in the company, valued at $6,911,295.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,919 shares of company stock worth $8,834,653. Insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after buying an additional 5,914,301 shares in the last quarter. Capital International Investors grew its position in shares of Delta Air Lines by 8.8% in the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after buying an additional 1,689,053 shares during the last quarter. Norges Bank bought a new stake in shares of Delta Air Lines during the 4th quarter valued at about $65,056,000. Jennison Associates LLC raised its stake in Delta Air Lines by 145.2% during the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock worth $105,347,000 after buying an additional 1,550,770 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after acquiring an additional 1,376,221 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

About Delta Air Lines

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.