Delta Air Lines, Inc. (NYSE:DAL) Receives “Overweight” Rating from Morgan Stanley

Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a report issued on Wednesday, October 4th. They currently have a $57.00 price objective on the transportation company’s stock, up from their prior price objective of $56.00. Morgan Stanley’s price target suggests a potential upside of 6.30% from the company’s current price.

Several other research analysts have also commented on the stock. UBS AG restated a “buy” rating and set a $62.00 price target (down previously from $65.00) on shares of Delta Air Lines in a research note on Saturday, September 30th. Cowen and Company decreased their price objective on shares of Delta Air Lines from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, September 28th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $63.00 price objective (down from $67.00) on shares of Delta Air Lines in a report on Wednesday, September 27th. Macquarie initiated coverage on shares of Delta Air Lines in a report on Monday, September 25th. They set an “outperform” rating and a $61.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price objective (down from $80.00) on shares of Delta Air Lines in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and an average target price of $62.91.

Shares of Delta Air Lines (DAL) traded up 0.103% on Wednesday, reaching $53.675. The company had a trading volume of 838,983 shares. The firm’s 50 day moving average is $49.03 and its 200 day moving average is $49.55. Delta Air Lines has a 12 month low of $39.05 and a 12 month high of $55.75. The firm has a market capitalization of $39.08 billion, a PE ratio of 10.639 and a beta of 1.25.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. The firm had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 EPS. On average, equities research analysts expect that Delta Air Lines will post $5.12 earnings per share for the current fiscal year.

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In related news, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven M. Sear sold 6,898 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.01, for a total transaction of $365,662.98. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 75,000 shares of company stock worth $278,160 and sold 203,701 shares worth $10,830,133. Insiders own 0.37% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. lifted its position in Delta Air Lines by 47.6% during the first quarter. UBS Asset Management Americas Inc. now owns 1,385,205 shares of the transportation company’s stock worth $63,664,000 after purchasing an additional 446,573 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Delta Air Lines by 5.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 175,034 shares of the transportation company’s stock worth $8,044,000 after purchasing an additional 8,635 shares during the period. Mason Street Advisors LLC lifted its position in Delta Air Lines by 0.3% during the first quarter. Mason Street Advisors LLC now owns 100,987 shares of the transportation company’s stock worth $4,641,000 after purchasing an additional 253 shares during the period. San Francisco Sentry Investment Group CA lifted its position in Delta Air Lines by 25.5% during the first quarter. San Francisco Sentry Investment Group CA now owns 9,840 shares of the transportation company’s stock worth $452,000 after purchasing an additional 2,000 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Delta Air Lines by 19.0% during the first quarter. Pacer Advisors Inc. now owns 19,956 shares of the transportation company’s stock worth $917,000 after purchasing an additional 3,182 shares during the period. 86.22% of the stock is owned by institutional investors.

Delta Air Lines Company Profile

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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