Delta Air Lines (NYSE:DAL) Price Target Raised to $80.00

Delta Air Lines (NYSE:DAL) had its price target boosted by Bank of America from $74.00 to $80.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their target price on shares of Delta Air Lines from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Susquehanna lifted their price objective on Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their target price on Delta Air Lines from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup initiated coverage on Delta Air Lines in a research note on Thursday, December 4th. They issued a “buy” rating and a $77.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $75.99.

Delta Air Lines Stock Down 0.5%

DAL opened at $71.30 on Tuesday. The firm has a market cap of $46.55 billion, a P/E ratio of 10.04, a PEG ratio of 1.17 and a beta of 1.38. The business’s fifty day simple moving average is $65.21 and its 200 day simple moving average is $59.86. Delta Air Lines has a 52 week low of $34.74 and a 52 week high of $73.16. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The firm had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. As a group, equities research analysts anticipate that Delta Air Lines will post 7.63 EPS for the current fiscal year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president directly owned 81,109 shares of the company’s stock, valued at $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares of the company’s stock, valued at $968,730. The trade was a 46.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DAL. Vanguard Group Inc. raised its holdings in shares of Delta Air Lines by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company’s stock valued at $3,667,479,000 after buying an additional 1,648,071 shares during the period. State Street Corp grew its position in Delta Air Lines by 2.6% in the second quarter. State Street Corp now owns 23,059,848 shares of the transportation company’s stock valued at $1,134,083,000 after acquiring an additional 581,421 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Delta Air Lines by 3.3% during the second quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company’s stock valued at $822,127,000 after purchasing an additional 527,570 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Delta Air Lines during the second quarter worth $386,364,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Delta Air Lines by 23.3% during the third quarter. Bank of New York Mellon Corp now owns 7,661,911 shares of the transportation company’s stock worth $434,813,000 after purchasing an additional 1,447,058 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.