TD Cowen Issues Positive Forecast for Delta Air Lines (NYSE:DAL) Stock Price

Delta Air Lines (NYSE:DAL) had its target price lifted by TD Cowen from $59.00 to $75.00 in a research note released on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the transportation company’s stock.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Susquehanna lifted their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Sanford C. Bernstein increased their price objective on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average price target of $67.73.

Delta Air Lines Stock Performance

DAL opened at $64.06 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines has a 12-month low of $33.69 and a 12-month high of $64.11. The business has a 50 day moving average of $51.29 and a 200-day moving average of $48.30. The stock has a market cap of $41.34 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.21 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same period in the prior year, the business earned $2.03 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is presently 8.33%.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Edward H. Bastian sold 68,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,240 shares of company stock valued at $8,044,893. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of Delta Air Lines during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Delta Air Lines in the third quarter valued at about $31,000. Kimelman & Baird LLC acquired a new stake in shares of Delta Air Lines during the second quarter valued at about $31,000. Unique Wealth Strategies LLC bought a new stake in shares of Delta Air Lines during the second quarter worth about $40,000. Finally, Quarry LP acquired a new position in shares of Delta Air Lines in the second quarter valued at approximately $41,000. Institutional investors 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.