Delta Air Lines (NYSE:DAL) Given New $77.00 Price Target at TD Cowen

Delta Air Lines (NYSE:DAL) had its target price boosted by TD Cowen from $72.00 to $77.00 in a research report released on Thursday, Marketbeat reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Several other research analysts have also weighed in on the stock. Dbs Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Susquehanna lifted their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a report on Friday, October 10th. Wall Street Zen cut Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Raymond James Financial lifted their price objective on Delta Air Lines from $68.00 to $70.00 and gave the company a “strong-buy” rating in a research note on Friday, October 10th. Finally, Bank of America raised their target price on Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to MarketBeat.com, Delta Air Lines has an average rating of “Buy” and a consensus price target of $72.37.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $67.21 on Thursday. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The firm has a 50 day simple moving average of $59.54 and a 200-day simple moving average of $56.17. Delta Air Lines has a 1-year low of $34.74 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%.The company had revenue of $8.40 billion during the quarter. On average, analysts expect that Delta Air Lines will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Thursday, October 16th were issued a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.1%. Delta Air Lines’s dividend payout ratio (DPR) is 10.56%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the sale, the executive vice president directly owned 81,109 shares in the company, valued at $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. This represents a 46.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Several hedge funds have recently added to or reduced their stakes in DAL. Brighton Jones LLC grew its position in shares of Delta Air Lines by 33.5% in the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after buying an additional 2,302 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Delta Air Lines by 1,169.4% during the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock worth $316,000 after purchasing an additional 6,677 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Delta Air Lines by 4.3% during the first quarter. PNC Financial Services Group Inc. now owns 116,330 shares of the transportation company’s stock worth $5,072,000 after purchasing an additional 4,764 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Delta Air Lines by 7.9% in the 1st quarter. Blair William & Co. IL now owns 22,490 shares of the transportation company’s stock valued at $981,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Delta Air Lines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock valued at $3,179,508,000 after purchasing an additional 514,264 shares during the period. 69.93% of the stock is currently owned by hedge funds and other 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.