Evercore Raises Delta Air Lines (NYSE:DAL) Price Target to $105.00

Delta Air Lines (NYSE:DAL) had its target price lifted by analysts at Evercore from $85.00 to $105.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Evercore’s target price points to a potential upside of 12.76% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Sanford C. Bernstein upped their price target on shares of Delta Air Lines from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. TD Cowen boosted their price objective on Delta Air Lines from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Susquehanna decreased their target price on Delta Air Lines from $81.00 to $78.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Argus increased their target price on Delta Air Lines from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Zacks Research raised Delta Air Lines from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of “Moderate Buy” and an average target price of $84.30.

Delta Air Lines Stock Up 2.7%

DAL opened at $93.12 on Thursday. Delta Air Lines has a 1-year low of $48.19 and a 1-year high of $90.98. The stock’s fifty day simple moving average is $75.90 and its 200 day simple moving average is $70.74. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The stock has a market cap of $61.18 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Delta Air Lines will post 5.34 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John E. Laughter sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total value of $1,074,150.00. Following the completion of the transaction, the executive vice president directly owned 54,369 shares in the company, valued at approximately $3,893,364.09. The trade was a 21.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president owned 95,025 shares of the company’s stock, valued at $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 149,635 shares of company stock valued at $10,833,855 over the last quarter. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its position in Delta Air Lines by 0.5% during the fourth quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company’s stock valued at $1,955,000 after purchasing an additional 144 shares in the last quarter. Utah Retirement Systems boosted its holdings in shares of Delta Air Lines by 0.3% in the 4th quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company’s stock valued at $3,652,000 after purchasing an additional 144 shares in the last quarter. First Financial Bank Trust Division increased its stake in shares of Delta Air Lines by 3.3% in the 4th quarter. First Financial Bank Trust Division now owns 4,721 shares of the transportation company’s stock valued at $328,000 after purchasing an additional 150 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Delta Air Lines by 2.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company’s stock valued at $454,000 after purchasing an additional 151 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Delta Air Lines by 2.4% during the 4th quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company’s stock worth $449,000 after buying an additional 152 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.