Delta Air Lines (NYSE:DAL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Delta Air Lines, Inc. (NYSE:DAL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $77.79 and traded as high as $82.77. Delta Air Lines shares last traded at $82.64, with a volume of 9,139,525 shares traded.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Delta Air Lines from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets raised their target price on Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Morgan Stanley lifted their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. UBS Group lowered their price target on shares of Delta Air Lines from $112.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Delta Air Lines in a research note on Monday, August 3rd. Twenty-three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.36.

Delta Air Lines Trading Down 2.6%

The company’s fifty day moving average price is $84.04 and its two-hundred day moving average price is $78.08. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. The company has a market cap of $53.75 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.14 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. During the same period in the previous year, the business earned $2.10 EPS. Delta Air Lines’s revenue was up 18.7% compared to the same quarter last year. Research analysts expect that Delta Air Lines, Inc. will post 6.23 earnings per share for the current year.

Insider Activity

In other Delta Air Lines news, EVP Alain Bellemare sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total value of $3,245,200.00. Following the completion of the sale, the executive vice president owned 95,025 shares in the company, valued at approximately $8,810,718. This trade represents a 26.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Sear sold 40,460 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the transaction, the executive vice president owned 104,404 shares in the company, valued at $9,766,994.20. The trade was a 27.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 356,726 shares of company stock worth $33,081,037. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delta Air Lines

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in Delta Air Lines during the 2nd quarter worth approximately $1,182,646,000. Pacer Advisors Inc. boosted its stake in Delta Air Lines by 1,579.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company’s stock worth $185,534,000 after purchasing an additional 2,514,193 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Delta Air Lines during the second quarter worth about $160,265,000. Allianz Asset Management GmbH grew its stake in shares of Delta Air Lines by 55.0% during the 4th quarter. Allianz Asset Management GmbH now owns 4,327,719 shares of the transportation company’s stock worth $300,344,000 after acquiring an additional 1,536,138 shares in the last quarter. Finally, Norges Bank acquired a new stake in Delta Air Lines in the 4th quarter valued at $86,931,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

About Delta Air Lines

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.