Delta Air Lines (NYSE:DAL) Price Target Raised to $83.00

Delta Air Lines (NYSE:DALFree Report) had its price objective boosted by Seaport Research Partners from $81.00 to $83.00 in a report released on Thursday morning,MarketScreener reports. The firm currently has a buy rating on the transportation company’s stock.

DAL has been the topic of several other research reports. Wolfe Research lowered their price objective on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Rothschild & Co Redburn reduced their target price on Delta Air Lines from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Weiss Ratings downgraded Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 6th. Bank of America reduced their target price on Delta Air Lines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, HSBC reduced their target price on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.14.

Get Our Latest Stock Analysis on Delta Air Lines

Delta Air Lines Trading Up 0.1%

Delta Air Lines stock opened at $67.92 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 0.54. Delta Air Lines has a 12 month low of $38.80 and a 12 month high of $76.39. The stock’s 50 day simple moving average is $66.59 and its two-hundred day simple moving average is $64.85. The firm has a market cap of $44.62 billion, a PE ratio of 9.90, a P/E/G ratio of 1.03 and a beta of 1.31.

Delta Air Lines (NYSE:DALGet Free Report) last released its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Delta Air Lines will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 26th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 26th. Delta Air Lines’s dividend payout ratio is currently 10.93%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Rahul D. Samant sold 62,528 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $70.18, for a total value of $4,388,215.04. Following the completion of the sale, the executive vice president directly owned 20,939 shares of the company’s stock, valued at $1,469,499.02. This trade represents a 74.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $70.26, for a total value of $7,026,000.00. Following the completion of the sale, the chief executive officer directly owned 1,363,448 shares of the company’s stock, valued at $95,795,856.48. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 620,550 shares of company stock worth $44,127,667. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of Delta Air Lines

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC increased its stake in shares of Delta Air Lines by 90.6% in the 3rd quarter. AlphaQuest LLC now owns 444 shares of the transportation company’s stock worth $25,000 after acquiring an additional 211 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new stake in shares of Delta Air Lines in the 4th quarter worth $31,000. Camelot Portfolios LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter worth $34,000. Accredited Wealth Management LLC increased its stake in shares of Delta Air Lines by 1,983.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after acquiring an additional 476 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter worth $35,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Key Delta Air Lines News

Here are the key news stories impacting Delta Air Lines this week:

About Delta Air Lines

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Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

Further Reading

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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