Raymond James Issues Pessimistic Forecast for Delta Air Lines (NYSE:DAL) Stock Price

Delta Air Lines (NYSE:DAL) had its price objective lowered by stock analysts at Raymond James from $80.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price target suggests a potential upside of 45.63% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Barclays decreased their target price on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Citigroup lowered their target price on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group restated a “hold” rating and issued a $46.00 price target (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday. TD Cowen upped their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Susquehanna raised their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average price target of $73.41.

Delta Air Lines Stock Up 0.4 %

NYSE DAL traded up $0.15 on Wednesday, reaching $42.57. The company had a trading volume of 2,089,355 shares, compared to its average volume of 10,221,505. The company’s fifty day moving average is $57.98 and its 200-day moving average is $58.36. The firm has a market capitalization of $27.52 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. Delta Air Lines has a 1-year low of $37.29 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period last year, the company earned $1.28 earnings per share. Delta Air Lines’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,886 shares of company stock worth $11,116,463. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of institutional investors have recently modified their holdings of DAL. MassMutual Private Wealth & Trust FSB lifted its position in Delta Air Lines by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,420 shares of the transportation company’s stock worth $106,000 after purchasing an additional 441 shares during the period. Fire Capital Management LLC bought a new stake in shares of Delta Air Lines during the 4th quarter worth approximately $322,000. CWC Advisors LLC. boosted its position in shares of Delta Air Lines by 2.3% during the 4th quarter. CWC Advisors LLC. now owns 15,317 shares of the transportation company’s stock worth $927,000 after acquiring an additional 350 shares in the last quarter. 111 Capital bought a new position in Delta Air Lines in the fourth quarter valued at approximately $660,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Delta Air Lines by 6.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 89,920 shares of the transportation company’s stock valued at $5,440,000 after acquiring an additional 5,820 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.

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.