Shares of Delta Air Lines Inc. (NYSE:DAL) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 17,502,145 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 10,367,340 shares.The stock last traded at $39.82 and had previously closed at $39.27.

The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. The business earned $10.48 billion during the quarter, compared to the consensus estimate of $11.11 billion. Delta Air Lines had a return on equity of 40.31% and a net margin of 11.88%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 earnings per share.

DAL has been the subject of a number of recent analyst reports. Deutsche Bank AG upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, July 12th. Argus reiterated a “buy” rating and issued a $60.00 price objective on shares of Delta Air Lines in a report on Friday, July 15th. Piper Jaffray Cos. set a $35.00 price objective on Delta Air Lines and gave the company a “buy” rating in a report on Sunday, August 21st. Vetr downgraded Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $43.41 price objective for the company. in a report on Wednesday, September 7th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $52.00 price objective on shares of Delta Air Lines in a report on Tuesday, September 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and a consensus target price of $53.07.

In other Delta Air Lines news, Director George N. Mattson acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $36.50 per share, with a total value of $365,000.00. Following the completion of the transaction, the director now directly owns 54,750 shares in the company, valued at approximately $1,998,375. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard H. Anderson sold 758,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $40.07, for a total value of $30,373,060.00. Following the completion of the sale, the chairman now directly owns 743,827 shares of the company’s stock, valued at $29,805,147.89. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its stake in Delta Air Lines by 0.4% in the second quarter. Huntington National Bank now owns 5,500 shares of the company’s stock worth $200,000 after buying an additional 21 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Delta Air Lines by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 4,211 shares of the company’s stock worth $150,000 after buying an additional 79 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Delta Air Lines by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,945 shares of the company’s stock worth $690,000 after buying an additional 79 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Delta Air Lines by 1.1% in the second quarter. Coldstream Capital Management Inc. now owns 7,771 shares of the company’s stock worth $283,000 after buying an additional 88 shares during the last quarter. Finally, Somerset Trust Co boosted its stake in Delta Air Lines by 0.3% in the second quarter. Somerset Trust Co now owns 32,262 shares of the company’s stock worth $1,175,000 after buying an additional 112 shares during the last quarter. 84.51% of the stock is owned by institutional investors.

The firm has a market capitalization of $30.21 billion, a P/E ratio of 6.491 and a beta of 0.95. The stock’s 50 day moving average price is $38.18 and its 200-day moving average price is $40.40.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

5 Day Chart for NYSE:DAL

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