TD Cowen Boosts Delta Air Lines (NYSE:DAL) Price Target to $72.00

Delta Air Lines (NYSE:DAL) had its price target boosted by equities researchers at TD Cowen from $66.00 to $72.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 17.59% from the stock’s previous close.

A number of other equities analysts have also recently commented on DAL. Wall Street Zen raised Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Saturday. Rothschild & Co Redburn lifted their price target on Delta Air Lines from $65.00 to $72.00 in a research note on Tuesday. Susquehanna Bancshares lifted their price target on Delta Air Lines from $51.00 to $65.00 and gave the stock a “positive” rating in a research note on Friday, July 11th. Raymond James Financial lifted their price target on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research note on Friday. Finally, Bernstein Bank lifted their price target on Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $70.68.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $61.23 on Monday. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 1.51 and a beta of 1.50. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68. Delta Air Lines has a 1-year low of $34.74 and a 1-year high of $69.98. The stock’s 50-day moving average is $58.94 and its 200 day moving average is $51.77.

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

Insider Activity at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the sale, the director directly owned 33,245 shares in the company, valued at $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares in the company, valued at $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its position in shares of Delta Air Lines by 2.6% during the second quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 196 shares in the last quarter. JT Stratford LLC boosted its position in shares of Delta Air Lines by 1.2% during the first quarter. JT Stratford LLC now owns 16,403 shares of the transportation company’s stock valued at $715,000 after purchasing an additional 200 shares in the last quarter. Nwam LLC boosted its holdings in Delta Air Lines by 3.1% in the second quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock worth $377,000 after acquiring an additional 212 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Delta Air Lines by 26.9% in the second quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock worth $51,000 after acquiring an additional 218 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in Delta Air Lines by 1.1% in the first quarter. one8zero8 LLC now owns 21,405 shares of the transportation company’s stock worth $933,000 after acquiring an additional 225 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

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.