Delta Air Lines, Inc. (DAL) Downgraded by BidaskClub
BidaskClub cut shares of Delta Air Lines, Inc. (NYSE:DAL) from a hold rating to a sell rating in a report issued on Friday morning.
Other analysts have also issued research reports about the company. Cowen and Company reaffirmed an outperform rating and set a $58.00 price objective on shares of Delta Air Lines in a research note on Monday, April 17th. Bank of America Corporation increased their price objective on Delta Air Lines from $64.00 to $71.00 and gave the company a buy rating in a research note on Friday, June 30th. Stifel Nicolaus reaffirmed a buy rating on shares of Delta Air Lines in a research note on Friday, May 26th. Sanford C. Bernstein reaffirmed an outperform rating and set a $60.00 price objective on shares of Delta Air Lines in a research note on Thursday, July 13th. Finally, ValuEngine raised Delta Air Lines from a buy rating to a strong-buy rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $60.16.
Delta Air Lines (DAL) traded up 0.729% on Friday, hitting $50.979. The stock had a trading volume of 2,953,581 shares. The stock has a market cap of $37.11 billion, a price-to-earnings ratio of 10.105 and a beta of 1.20. The stock’s 50 day moving average is $52.87 and its 200 day moving average is $49.44. Delta Air Lines has a one year low of $35.84 and a one year high of $55.75.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. Analysts anticipate that Delta Air Lines will post $5.12 earnings per share for the current year.
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In related news, CEO Edward H. Bastian sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the sale, the chief executive officer now directly owns 285,508 shares in the company, valued at approximately $13,861,413.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joanne D. Smith sold 4,475 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $49.32, for a total value of $220,707.00. Following the sale, the executive vice president now owns 85,398 shares in the company, valued at $4,211,829.36. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 394,000 shares of company stock worth $31,520 and have sold 131,306 shares worth $6,924,439. Company insiders own 0.37% of the company’s stock.
Several large investors have recently made changes to their positions in DAL. Tompkins Financial Corp bought a new stake in shares of Delta Air Lines during the first quarter valued at approximately $107,000. Fox Run Management L.L.C. raised its stake in shares of Delta Air Lines by 48.6% in the first quarter. Fox Run Management L.L.C. now owns 10,400 shares of the transportation company’s stock worth $478,000 after buying an additional 3,400 shares during the period. Skylands Capital LLC raised its stake in shares of Delta Air Lines by 9.6% in the first quarter. Skylands Capital LLC now owns 179,550 shares of the transportation company’s stock worth $8,252,000 after buying an additional 15,750 shares during the period. Atria Investments LLC raised its stake in shares of Delta Air Lines by 28.7% in the first quarter. Atria Investments LLC now owns 18,555 shares of the transportation company’s stock worth $853,000 after buying an additional 4,142 shares during the period. Finally, Private Trust Co. NA raised its stake in shares of Delta Air Lines by 17.2% in the first quarter. Private Trust Co. NA now owns 13,651 shares of the transportation company’s stock worth $627,000 after buying an additional 2,008 shares during the period. Institutional investors and hedge funds own 87.65% of the company’s stock.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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