Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00

Delta Air Lines (NYSE:DAL) had its price objective boosted by TD Cowen from $106.00 to $112.00 in a report issued on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on DAL. HSBC reduced their price target on shares of Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Raymond James Financial lowered Delta Air Lines from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $104.00 in a research report on Monday, July 6th. BMO Capital Markets increased their target price on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Wolfe Research decreased their target price on shares of Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Seaport Research Partners boosted their price target on shares of Delta Air Lines from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Twenty-three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Delta Air Lines presently has an average rating of “Moderate Buy” and an average target price of $100.40.

Delta Air Lines Price Performance

Shares of DAL opened at $86.66 on Tuesday. The stock has a market cap of $56.99 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. Delta Air Lines has a 1 year low of $50.44 and a 1 year high of $95.68. The stock’s 50-day moving average price is $82.28 and its two-hundred day moving average price is $72.97. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company had revenue of $17.67 billion during the quarter, compared to analysts’ expectations of $17.43 billion. During the same period in the prior year, the business posted $2.10 EPS. Delta Air Lines’s revenue was up 18.7% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines will post 6.61 earnings per share for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be issued a dividend of $0.215 per share. The ex-dividend date is Thursday, July 9th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. Delta Air Lines’s dividend payout ratio is 14.26%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 9,710 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the transaction, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. This represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,331 shares of company stock valued at $5,036,638 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of hedge funds and other institutional investors have recently made changes to their positions in DAL. Lloyd Advisory Services LLC. bought a new position in shares of Delta Air Lines in the fourth quarter worth $31,000. SWAN Capital LLC lifted its stake in Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 508 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Delta Air Lines in the 4th quarter valued at $34,000. Cornerstone Planning Group LLC boosted its stake in shares of Delta Air Lines by 451.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 429 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in Delta Air Lines by 195.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 237 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Key Delta Air Lines News

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

• Positive Sentiment: Delta is raising fares and keeping a higher baseline pricing structure, which should help protect margins if fuel costs stay elevated. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: Premium and corporate travel demand remains firm, supporting Delta’s revenue mix and pricing power. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: TD Cowen increased its price target on Delta Air Lines, signaling improved analyst confidence in the stock. Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00 at TD Cowen
• Neutral Sentiment: Delta reported stronger revenue in the latest quarter, but net income fell from a year earlier, so the earnings update was mixed rather than uniformly positive. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Neutral Sentiment: Delta filed an omnibus shelf registration, which gives it flexibility to issue securities later, but does not by itself mean immediate dilution or financing activity. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Negative Sentiment: Higher jet fuel costs remain a headwind for the airline industry and could pressure Delta’s margins despite better pricing. United Airlines anticipates $6 billion in added fuel costs

About Delta Air Lines

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.