Delta Air Lines (NYSE:DAL) Hits New 12-Month High – Here’s Why

Delta Air Lines, Inc. (NYSE:DAL) hit a new 52-week high on Thursday . The company traded as high as $70.71 and last traded at $69.9970, with a volume of 2327194 shares. The stock had previously closed at $69.93.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DAL. Seaport Global Securities lifted their price target on Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. BNP Paribas Exane lifted their target price on shares of Delta Air Lines from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Wolfe Research decreased their price target on shares of Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Dbs Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Cowen reiterated a “buy” rating on shares of Delta Air Lines in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $74.08.

Delta Air Lines Stock Down 1.0%

The company has a market cap of $45.59 billion, a PE ratio of 9.83, a PEG ratio of 1.65 and a beta of 1.38. The stock’s 50 day moving average price is $60.94 and its 200-day moving average price is $56.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40.

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

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 16th. Delta Air Lines’s payout ratio is 10.56%.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares in the company, valued at $968,730. This trade represents a 46.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John E. Laughter sold 23,323 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the sale, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. The trade was a 22.33% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of large investors have recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC bought a new position in shares of Delta Air Lines during the second quarter valued at about $25,000. AlphaQuest LLC raised its position in Delta Air Lines by 90.6% during the 3rd quarter. AlphaQuest LLC now owns 444 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 211 shares during the last quarter. NewSquare Capital LLC raised its position in Delta Air Lines by 184.6% during the 2nd quarter. NewSquare Capital LLC now owns 572 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 371 shares during the last quarter. Accredited Wealth Management LLC lifted its holdings in Delta Air Lines by 1,983.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after buying an additional 476 shares during the period. Finally, Activest Wealth Management grew its position in shares of Delta Air Lines by 2,280.8% in the 2nd quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock worth $30,000 after buying an additional 593 shares during the last quarter. 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.