Delta Air Lines (NYSE:DAL) Price Target Raised to $90.00

Delta Air Lines (NYSE:DAL) had its price objective hoisted by equities researchers at Barclays from $60.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price would suggest a potential upside of 38.16% from the company’s current price.

A number of other brokerages also recently issued reports on DAL. TD Cowen boosted their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Sanford C. Bernstein increased their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $70.23.

Delta Air Lines Stock Performance

NYSE DAL traded up $0.68 during trading hours on Thursday, hitting $65.14. 3,521,143 shares of the company’s stock traded hands, compared to its average volume of 9,379,762. Delta Air Lines has a 52 week low of $35.28 and a 52 week high of $66.21. The firm has a market capitalization of $42.03 billion, a P/E ratio of 9.04, a P/E/G ratio of 1.22 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average price is $52.17 and its two-hundred day moving average price is $48.51.

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

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $24,775,004.27. This represents a 0.00 % 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 three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. Sanders Capital LLC raised its holdings in shares of Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after buying an additional 749,099 shares during the period. Capital World Investors lifted its position in shares of Delta Air Lines by 0.3% during the first quarter. Capital World Investors now owns 15,030,836 shares of the transportation company’s stock worth $719,526,000 after purchasing an additional 49,712 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Delta Air Lines by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after purchasing an additional 1,105,674 shares during the period. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines in the third quarter worth about $281,206,000. Finally, Castle Hook Partners LP purchased a new position in Delta Air Lines in the 3rd quarter worth about $189,296,000. 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.