Bank of America Increases Delta Air Lines (NYSE:DAL) Price Target to $60.00

Delta Air Lines (NYSE:DAL) had its target price boosted by Bank of America from $55.00 to $60.00 in a research report released on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other analysts have also recently issued reports on DAL. TD Cowen decreased their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Jefferies Financial Group upped their price objective on Delta Air Lines from $56.00 to $60.00 and gave the company a buy rating in a research report on Wednesday, October 2nd. Barclays lifted their target price on Delta Air Lines from $52.00 to $60.00 and gave the stock an overweight rating in a report on Friday. Sanford C. Bernstein increased their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an outperform rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an overweight rating in a research report on Friday. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $65.40.

Delta Air Lines Stock Performance

NYSE DAL opened at $53.20 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. Delta Air Lines has a 1-year low of $30.60 and a 1-year high of $53.86. The business has a 50 day simple moving average of $44.50 and a two-hundred day simple moving average of $46.93. The stock has a market capitalization of $34.33 billion, a PE ratio of 7.65, a P/E/G ratio of 0.98 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. On average, research analysts predict that Delta Air Lines will post 6.17 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.13%. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines in the third quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at $31,000. Rise Advisors LLC lifted its holdings 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 buying an additional 452 shares during the period. Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth $40,000. Finally, Quarry LP bought a new position in shares of Delta Air Lines during the 2nd quarter worth $41,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

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.