Delta Air Lines, Inc. (NYSE:DAL) Receives $71.22 Average Price Target from Brokerages

Delta Air Lines, Inc. (NYSE:DAL) has been given an average recommendation of “Buy” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $71.22.

Several brokerages recently issued reports on DAL. TD Cowen lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Bank of America raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays upped their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein raised their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th.

Delta Air Lines Price Performance

Shares of DAL opened at $63.24 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines has a 52-week low of $35.46 and a 52-week high of $66.25. The business’s 50 day moving average price is $53.45 and its two-hundred day moving average price is $48.78. The firm has a market cap of $40.81 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter in the previous year, the company posted $2.03 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Delta Air Lines will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.95%. Delta Air Lines’s payout ratio is currently 8.33%.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 in the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAL. First Eagle Investment Management LLC lifted its position in Delta Air Lines by 73.4% in the 1st quarter. First Eagle Investment Management LLC now owns 8,952 shares of the transportation company’s stock valued at $429,000 after acquiring an additional 3,788 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Delta Air Lines by 4.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after buying an additional 221 shares during the period. Orion Portfolio Solutions LLC increased its position in Delta Air Lines by 4.9% during the first quarter. Orion Portfolio Solutions LLC now owns 24,781 shares of the transportation company’s stock valued at $1,186,000 after acquiring an additional 1,161 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Delta Air Lines by 3.9% during the 1st quarter. Edgestream Partners L.P. now owns 125,460 shares of the transportation company’s stock valued at $6,006,000 after purchasing an additional 4,653 shares during the period. Finally, Capital Wealth Alliance LLC bought a new position in shares of Delta Air Lines in the 1st quarter worth approximately $218,000. Institutional investors own 69.93% of the company’s stock.

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.