Analysts Set Delta Air Lines, Inc. (NYSE:DAL) PT at $60.36

Shares of Delta Air Lines, Inc. (NYSE:DAL) have been assigned an average rating of “Buy” from the twelve analysts that are presently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $60.70.

Several research firms have recently weighed in on DAL. TD Cowen decreased their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America increased 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. Susquehanna increased their price objective on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th.

Delta Air Lines Stock Performance

Shares of DAL opened at $45.44 on Friday. The stock has a 50 day moving average price of $49.16 and a 200 day moving average price of $45.69. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.35. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.68 earnings per share. Research analysts predict that Delta Air Lines will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be given a $0.15 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. This represents a $0.60 annualized dividend and a yield of 1.32%. Delta Air Lines’s dividend payout ratio is presently 5.76%.

Insiders Place Their Bets

In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the sale, the president now owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total value of $1,176,206.78. Following the completion of the sale, the executive vice president now directly owns 141,451 shares in the company, valued at approximately $6,911,295.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,919 shares of company stock worth $8,834,653. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Delta Air Lines

Several large investors have recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in Delta Air Lines by 24.7% in the first quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 195 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Delta Air Lines by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after acquiring an additional 221 shares during the last quarter. Silverlake Wealth Management LLC boosted its stake in shares of Delta Air Lines by 2.9% during the first quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock valued at $390,000 after acquiring an additional 229 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Delta Air Lines by 7.2% during the first quarter. Lindbrook Capital LLC now owns 3,472 shares of the transportation company’s stock valued at $166,000 after acquiring an additional 233 shares during the last quarter. Finally, Norden Group LLC boosted its stake in shares of Delta Air Lines by 1.8% during the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock valued at $670,000 after acquiring an additional 243 shares during 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.