Delta Air Lines (NYSE:DAL) Price Target Raised to $72.00

Delta Air Lines (NYSE:DAL) had its price objective raised by TD Cowen from $66.00 to $72.00 in a research note issued to investors on Monday,MarketScreener reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on DAL. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delta Air Lines in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Wolfe Research increased their price objective on Delta Air Lines from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Dbs Bank raised Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Delta Air Lines from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. According to MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $71.53.

Delta Air Lines Stock Performance

DAL opened at $61.76 on Monday. Delta Air Lines has a 52-week low of $34.74 and a 52-week high of $69.98. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.32 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.50. The firm’s 50-day moving average price is $59.09 and its 200-day moving average price is $51.83.

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

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Insider Activity at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director owned 33,245 shares in the company, valued at $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares of the company’s stock, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of Delta Air Lines by 3.3% in the third quarter. Private Trust Co. NA now owns 5,493 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 174 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of Delta Air Lines by 2.6% in the second quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock valued at $386,000 after buying an additional 196 shares in the last quarter. JT Stratford LLC boosted its position in Delta Air Lines by 1.2% during the first quarter. JT Stratford LLC now owns 16,403 shares of the transportation company’s stock worth $715,000 after purchasing an additional 200 shares in the last quarter. Nwam LLC boosted its position in Delta Air Lines by 3.1% during the second quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock worth $377,000 after purchasing an additional 212 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Delta Air Lines by 26.9% during the second quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock worth $51,000 after purchasing an additional 218 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, 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.