Delta Air Lines’ (DAL) Outperform Rating Reiterated at Sanford C. Bernstein

Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “outperform” rating restated by equities research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Thursday, July 13th. They currently have a $60.00 target price on the transportation company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 19.26% from the company’s previous close.

A number of other research firms also recently issued reports on DAL. Deutsche Bank AG raised their price target on Delta Air Lines from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Vetr downgraded Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $52.43 target price on the stock. in a research note on Tuesday, May 2nd. Cowen and Company lowered their target price on Delta Air Lines from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, April 10th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Delta Air Lines in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $60.16.

Delta Air Lines (DAL) opened at 50.31 on Thursday. Delta Air Lines has a 52 week low of $35.84 and a 52 week high of $55.75. The stock has a 50 day moving average of $52.75 and a 200 day moving average of $49.46. The company has a market cap of $36.63 billion, a PE ratio of 9.97 and a beta of 1.20.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 EPS. Equities research analysts predict that Delta Air Lines will post $5.12 EPS for the current fiscal year.

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In other news, EVP Joanne D. Smith sold 4,475 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $49.32, for a total value of $220,707.00. Following the completion of the transaction, the executive vice president now directly owns 85,398 shares of the company’s stock, valued at $4,211,829.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $48.55, for a total value of $1,213,750.00. Following the completion of the transaction, the chief executive officer now directly owns 285,508 shares of the company’s stock, valued at $13,861,413.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 394,000 shares of company stock valued at $31,520 and have sold 131,306 shares valued at $6,924,439. Insiders own 0.37% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares in the last quarter. Lansdowne Partners UK LLP increased its stake in shares of Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after buying an additional 1,918,036 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after buying an additional 1,930,614 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Delta Air Lines by 15.8% in the first quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock worth $439,900,000 after buying an additional 1,308,115 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Delta Air Lines by 2.5% in the second quarter. Boston Partners now owns 7,774,829 shares of the transportation company’s stock worth $417,820,000 after buying an additional 190,531 shares in the last quarter. 87.65% of the stock is owned by institutional investors and hedge funds.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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