Morgan Stanley Lowers Delta Air Lines (NYSE:DAL) Price Target to $59.00

Delta Air Lines (NYSE:DAL) had its price target decreased by research analysts at Morgan Stanley from $63.00 to $59.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential upside of 11.43% from the company’s previous close.

DAL has been the topic of several other reports. Zacks Investment Research raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Friday, September 6th. Stephens set a $75.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Monday, September 30th. Wolfe Research set a $69.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Friday, July 12th. ValuEngine downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Imperial Capital raised their price target on shares of Delta Air Lines from $61.00 to $63.00 and gave the company an “in-line” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Delta Air Lines currently has a consensus rating of “Hold” and an average target price of $66.63.

Shares of DAL stock opened at $52.95 on Thursday. Delta Air Lines has a one year low of $45.08 and a one year high of $63.44. The company’s 50-day moving average is $57.15 and its 200 day moving average is $57.16. The company has a market capitalization of $34.43 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.06. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The company had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the prior year, the firm posted $1.80 EPS. Delta Air Lines’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines will post 7.07 earnings per share for the current fiscal year.

In other news, President Glen W. Hauenstein sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the sale, the president now owns 267,526 shares of the company’s stock, valued at approximately $16,862,163.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 6,384 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total transaction of $395,552.64. Following the sale, the senior vice president now directly owns 23,010 shares in the company, valued at approximately $1,425,699.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,285 shares of company stock worth $5,219,381. Insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of DAL. Buckingham Capital Management Inc. boosted its holdings in shares of Delta Air Lines by 7.8% in the first quarter. Buckingham Capital Management Inc. now owns 73,121 shares of the transportation company’s stock worth $3,777,000 after buying an additional 5,274 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Delta Air Lines by 9.7% in the first quarter. First Trust Advisors LP now owns 406,496 shares of the transportation company’s stock worth $20,996,000 after buying an additional 36,079 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Delta Air Lines by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 468,208 shares of the transportation company’s stock worth $24,183,000 after buying an additional 2,319 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Delta Air Lines by 16.8% in the first quarter. Commonwealth Equity Services LLC now owns 87,374 shares of the transportation company’s stock worth $4,512,000 after buying an additional 12,556 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Delta Air Lines by 4,383.2% in the first quarter. Lazard Asset Management LLC now owns 207,884 shares of the transportation company’s stock worth $10,737,000 after buying an additional 203,247 shares during the last quarter. 86.07% of the stock is currently owned by 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Momentum Investing

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.