Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a report released on Tuesday.
Other analysts have also issued research reports about the company. Bank of America Corporation raised their price target on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Vetr lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price target for the company. in a research note on Thursday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Delta Air Lines in a research note on Friday, May 26th. ValuEngine lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price target (up previously from $58.00) on shares of Delta Air Lines in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $61.97.
Delta Air Lines (NYSE:DAL) opened at 48.98 on Tuesday. The stock has a 50 day moving average of $48.62 and a 200-day moving average of $49.18. Delta Air Lines has a 12 month low of $36.59 and a 12 month high of $55.75. The firm has a market cap of $35.66 billion, a P/E ratio of 9.71 and a beta of 1.25.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the previous year, the business earned $1.47 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Delta Air Lines will post $5.12 earnings per share for the current fiscal year.
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In related news, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.15, for a total value of $3,695,050.00. Following the transaction, the president now directly owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the transaction, the vice president now directly owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. In the last three months, insiders have acquired 267,000 shares of company stock worth $293,520 and have sold 75,700 shares worth $4,171,150. Corporate insiders own 0.37% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in DAL. State of Tennessee Treasury Department grew its stake in shares of Delta Air Lines by 78.0% during the second quarter. State of Tennessee Treasury Department now owns 713,955 shares of the transportation company’s stock valued at $38,368,000 after acquiring an additional 312,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Delta Air Lines by 57.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,036 shares of the transportation company’s stock worth $6,236,000 after purchasing an additional 42,150 shares in the last quarter. US Bancorp DE grew its stake in Delta Air Lines by 15.1% in the second quarter. US Bancorp DE now owns 1,381,854 shares of the transportation company’s stock worth $74,262,000 after purchasing an additional 181,027 shares in the last quarter. Hosking Partners LLP grew its stake in Delta Air Lines by 10.0% in the first quarter. Hosking Partners LLP now owns 1,861,777 shares of the transportation company’s stock worth $85,567,000 after purchasing an additional 169,097 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its stake in Delta Air Lines by 2.7% in the second quarter. Wesbanco Bank Inc. now owns 55,360 shares of the transportation company’s stock worth $2,975,000 after purchasing an additional 1,475 shares in the last quarter. 86.49% of the stock is currently owned by institutional investors.
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.
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