Delta Air Lines (NYSE:DAL) Price Target Raised to $50.00 at TD Cowen

Delta Air Lines (NYSE:DAL) had its price objective lifted by TD Cowen from $45.00 to $50.00 in a research report sent to investors on Thursday morning, MarketBeat reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Other equities analysts have also issued reports about the stock. Susquehanna cut their price objective on shares of Delta Air Lines from $80.00 to $50.00 and set a “positive” rating on the stock in a report on Monday. StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday. Dbs Bank cut Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 target price (down previously from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Finally, Bank of America decreased their price target on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.77.

Delta Air Lines Stock Down 11.1 %

Shares of NYSE:DAL opened at $39.34 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $52.94 and its 200 day moving average is $57.75. The stock has a market cap of $25.43 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. Delta Air Lines has a 52-week low of $34.74 and a 52-week high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $12.98 billion for the quarter, compared to analysts’ expectations of $13.85 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. The trade was a 17.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rahul D. Samant sold 17,970 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the transaction, the executive vice president now directly owns 35,889 shares in the company, valued at $2,479,212.12. This represents a 33.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock valued at $11,116,463 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

Institutional investors and hedge funds have recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $27,000. Hemington Wealth Management raised its stake in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Delta Air Lines during the 4th quarter valued at about $29,000. Crews Bank & Trust acquired a new position in shares of Delta Air Lines in the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after buying an additional 431 shares during the last quarter. 69.93% 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 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.