Delta Air Lines, Inc. (NYSE:DAL) Rating Reiterated by Morgan Stanley

Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a research note issued on Friday, July 14th. They presently have a $62.00 target price on the transportation company’s stock, down from their previous target price of $63.00. Morgan Stanley’s target price points to a potential upside of 25.30% from the stock’s current price.

Several other brokerages have also weighed in on DAL. Cowen and Company lifted their target price on shares of Delta Air Lines from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Imperial Capital boosted their price target on shares of Delta Air Lines from $52.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, July 11th. ValuEngine lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Delta Air Lines in a research note on Thursday, July 13th. Finally, Vetr downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $56.43 target price for the company. in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $60.74.

Shares of Delta Air Lines (NYSE DAL) opened at 49.48 on Friday. The firm has a market cap of $36.02 billion, a PE ratio of 9.81 and a beta of 1.20. The company has a 50 day moving average price of $52.40 and a 200 day moving average price of $49.46. Delta Air Lines has a 12-month low of $35.84 and a 12-month high of $55.75.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by $0.02. Delta Air Lines had a return on equity of 37.16% and a net margin of 11.34%. The company had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Delta Air Lines will post $5.12 earnings per share for the current fiscal year.

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In other news, CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $48.55, for a total value of $1,213,750.00. Following the transaction, the chief executive officer now directly owns 285,508 shares of the company’s stock, valued at $13,861,413.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The disclosure for this sale can be found here. Over the last three months, insiders bought 399,000 shares of company stock worth $31,920 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares in the last quarter. Winslow Capital Management LLC raised its position in Delta Air Lines by 5,815,030.8% in the first quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after buying an additional 4,535,724 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after buying an additional 3,245,791 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in Delta Air Lines during the second quarter worth approximately $158,224,000. Finally, TIAA CREF Investment Management LLC raised its position in Delta Air Lines by 77.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock worth $288,312,000 after buying an additional 2,343,531 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors and hedge funds.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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