Delta Air Lines (NYSE:DAL) PT Raised to $60.00

Delta Air Lines (NYSE:DAL) had its price target raised by stock analysts at Jefferies Financial Group from $56.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 23.20% from the company’s current price.

Several other analysts have also recently weighed in on the company. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Sanford C. Bernstein lowered their price objective on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Finally, TD Cowen dropped their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.83.

Delta Air Lines Stock Performance

DAL traded down $1.26 on Wednesday, hitting $48.70. The company’s stock had a trading volume of 3,426,595 shares, compared to its average volume of 9,458,345. The company’s 50 day simple moving average is $43.06 and its 200-day simple moving average is $46.65. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $53.86. The firm has a market cap of $31.43 billion, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter last year, the firm posted $2.68 earnings per share. Delta Air Lines’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts forecast that Delta Air Lines will post 6.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $43.90 per share, with a total value of $439,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Kimelman & Baird LLC bought a new position in Delta Air Lines during the 2nd quarter valued at approximately $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $36,000. Rise Advisors LLC raised its position in shares of Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at about $40,000. Finally, Quarry LP purchased a new position in Delta Air Lines in the second quarter worth about $41,000. 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.