Delta Air Lines (NYSE:DAL) PT Lowered to $56.00 at Jefferies Financial Group

Delta Air Lines (NYSE:DAL) had its price target lowered by Jefferies Financial Group from $58.00 to $56.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna raised their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a research note on Tuesday, April 9th. Citigroup raised their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. HSBC assumed coverage on Delta Air Lines in a research report on Monday, May 13th. They set a buy rating and a $72.80 target price on the stock. Bank of America raised their price objective on Delta Air Lines from $53.00 to $55.00 and gave the company a buy rating in a report on Thursday, April 11th. Finally, UBS Group assumed coverage on Delta Air Lines in a report on Wednesday, March 20th. They issued a buy rating and a $59.00 price objective on the stock. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $60.25.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $47.44 on Friday. Delta Air Lines has a twelve month low of $30.60 and a twelve month high of $53.86. The company’s 50 day moving average is $50.63 and its 200 day moving average is $45.20. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. The company has a market cap of $30.61 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $12.51 billion. During the same quarter in the prior year, the company earned $0.25 EPS. Delta Air Lines’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Delta Air Lines will post 6.61 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of Delta Air Lines stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of Delta Air Lines stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average cost of $49.50 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $495,000. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 178,919 shares of company stock valued at $8,834,653. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delta Air Lines

Several hedge funds and other institutional investors have recently made changes to their positions in DAL. MeadowBrook Investment Advisors LLC purchased a new stake in Delta Air Lines during the fourth quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its stake in Delta Air Lines by 396.6% during the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after purchasing an additional 575 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Delta Air Lines by 26,166.7% in the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after buying an additional 785 shares during the last quarter. Rise Advisors LLC lifted its stake in Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after buying an additional 452 shares during the last quarter. Finally, Nordwand Advisors LLC purchased a new stake in Delta Air Lines in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Company Profile

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.