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

Delta Air Lines (NYSE:DAL) had its price objective upped by TD Cowen from $78.00 to $90.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on DAL. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Sanford C. Bernstein lifted their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays lifted their price target on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, Jefferies Financial Group lifted their price target on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Stock Performance

DAL opened at $65.42 on Monday. The business has a fifty day simple moving average of $62.59 and a 200 day simple moving average of $52.15. The company has a market capitalization of $42.21 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. Delta Air Lines has a 1 year low of $36.34 and a 1 year high of $68.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. During the same quarter last year, the business earned $1.28 earnings per share. Delta Air Lines’s revenue was up 9.4% on a year-over-year basis. Research analysts expect that Delta Air Lines will post 6.08 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Rahul D. Samant sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $58.53, for a total value of $585,300.00. Following the transaction, the executive vice president now directly owns 64,163 shares of the company’s stock, valued at $3,755,460.39. The trade was a 13.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the business’s 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 directly owns 439,819 shares in the company, valued at $24,775,004.27. This represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,319 shares of company stock valued at $6,794,748. 0.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DAL. Future Financial Wealth Managment LLC acquired a new position in shares of Delta Air Lines in the 3rd quarter valued at about $25,000. Kimelman & Baird LLC acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in Delta Air Lines in the 3rd quarter valued at about $31,000. Modus Advisors LLC bought a new stake in Delta Air Lines in the 4th quarter valued at about $33,000. Finally, Versant Capital Management Inc increased its position in Delta Air Lines by 829.2% in the 4th quarter. Versant Capital Management Inc now owns 604 shares of the transportation company’s stock valued at $37,000 after buying an additional 539 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

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.