Delta Air Lines (NYSE:DAL) Price Target Raised to $75.00 at TD Cowen

Delta Air Lines (NYSE:DAL) had its price objective raised by TD Cowen from $59.00 to $75.00 in a research note released on Tuesday morning, Marketbeat.com reports. TD Cowen currently has a buy rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on DAL. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research report on Monday. Barclays boosted their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Susquehanna lifted their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Finally, Bank of America upped their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $71.22.

Delta Air Lines Price Performance

NYSE:DAL traded down $0.67 during mid-day trading on Tuesday, reaching $64.18. 2,815,901 shares of the stock were exchanged, compared to its average volume of 9,367,271. Delta Air Lines has a 1-year low of $35.28 and a 1-year high of $66.25. 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 firm has a market capitalization of $41.41 billion, a PE ratio of 9.01, a PEG ratio of 1.23 and a beta of 1.33. The business has a fifty day moving average price of $52.62 and a 200 day moving average price of $48.62.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates 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 business 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 firm earned $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Delta Air Lines will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

A number of large investors have recently modified their holdings of the business. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines in the 3rd quarter valued at $281,206,000. Castle Hook Partners LP acquired a new position in Delta Air Lines during the 3rd quarter worth about $189,296,000. Jupiter Asset Management Ltd. bought a new stake in shares of Delta Air Lines in the 2nd quarter valued at about $60,217,000. Dimensional Fund Advisors LP lifted its stake in shares of Delta Air Lines by 12.5% in the 2nd 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. Finally, Sanders Capital LLC increased its holdings in 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 purchasing an additional 749,099 shares in the last quarter. Institutional investors and hedge funds 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.