Delta Air Lines (NYSE:DAL) Price Target Raised to $90.00

Delta Air Lines (NYSE:DAL) had its price target lifted by Barclays from $60.00 to $90.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other research firms have also recently weighed in on DAL. Susquehanna boosted their price objective on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group boosted their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $71.22.

Delta Air Lines Price Performance

DAL opened at $64.07 on Thursday. The firm’s fifty day moving average price is $53.06 and its two-hundred day moving average price is $48.71. The company has a market capitalization of $41.34 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines has a 1 year low of $35.28 and a 1 year high of $66.25.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Delta Air Lines will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is presently 8.33%.

Insider Activity

In other news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 3.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the sale, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. This trade represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock worth $8,044,893 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

Several institutional investors and hedge funds have recently modified their holdings of DAL. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines in the 3rd quarter worth $281,206,000. Castle Hook Partners LP bought a new position in Delta Air Lines in the third quarter valued at $189,296,000. Jupiter Asset Management Ltd. purchased a new stake in Delta Air Lines during the second quarter valued at about $60,217,000. Dimensional Fund Advisors LP lifted its stake in Delta Air Lines by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after purchasing an additional 1,105,674 shares during the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Delta Air Lines by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after purchasing an additional 749,099 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

About Delta Air Lines

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.