Delta Air Lines, Inc. (NYSE:DAL) Receives $67.84 Average Price Target from Brokerages

Shares of Delta Air Lines, Inc. (NYSE:DAL) have been assigned a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. Twenty investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $70.31.

A number of equities analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen raised their price objective on shares of Delta Air Lines from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Raymond James Financial increased their price target on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a report on Friday. Bernstein Bank increased their price target on Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, Susquehanna Bancshares boosted their target price on shares of Delta Air Lines from $51.00 to $65.00 and gave the company a “positive” rating in a research note on Friday, July 11th.

Delta Air Lines Price Performance

NYSE:DAL opened at $58.68 on Tuesday. The business has a 50 day simple moving average of $58.77 and a 200-day simple moving average of $51.70. Delta Air Lines has a 1 year low of $34.74 and a 1 year high of $69.98. The firm has a market capitalization of $38.32 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.48 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%.The company had revenue of $8.40 billion for the quarter. Equities analysts forecast that Delta Air Lines will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares of the company’s stock, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares in the company, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

Institutional investors and hedge funds have recently made changes to their positions in the company. Thomasville National Bank purchased a new position in Delta Air Lines during the 3rd quarter valued at about $485,000. Focused Wealth Management Inc bought a new position in shares of Delta Air Lines during the third quarter valued at approximately $201,000. Advance Capital Management Inc. bought a new position in shares of Delta Air Lines during the third quarter valued at approximately $227,000. KMG Fiduciary Partners LLC boosted its stake in shares of Delta Air Lines by 1.4% during the third quarter. KMG Fiduciary Partners LLC now owns 84,474 shares of the transportation company’s stock valued at $4,794,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Secure Asset Management LLC bought a new position in shares of Delta Air Lines during the third quarter valued at approximately $206,000. 69.93% of the stock is currently owned by institutional investors.

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.