Delta Air Lines, Inc. (DAL) Price Target Lowered to $58.00 at Cowen and Company
Delta Air Lines, Inc. (NYSE:DAL) had its price objective cut by Cowen and Company from $60.00 to $58.00 in a research report issued on Thursday. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen and Company’s target price would suggest a potential upside of 18.97% from the company’s previous close.
A number of other research analysts also recently commented on DAL. Barclays PLC assumed coverage on shares of Delta Air Lines in a research note on Thursday, August 10th. They set an “overweight” rating and a $70.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $80.00) on shares of Delta Air Lines in a research note on Friday, September 22nd. BidaskClub downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Wolfe Research raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Delta Air Lines in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Delta Air Lines has a consensus rating of “Buy” and an average target price of $61.47.
Delta Air Lines (NYSE:DAL) opened at 47.72 on Thursday. Delta Air Lines has a 52 week low of $37.91 and a 52 week high of $55.75. The firm’s 50-day moving average is $48.31 and its 200 day moving average is $49.10. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 9.46 and a beta of 1.25. Delta Air Lines also was the recipient of some unusual options trading activity on Monday. Investors acquired 8,778 put options on the stock. This is an increase of approximately 113% compared to the typical volume of 4,113 put options.
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 the Zacks’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the prior year, the company earned $1.47 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines will post $5.12 EPS for the current year.
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In related news, Director George N. Mattson purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now directly owns 61,510 shares in the company, valued at $2,795,014.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the transaction, the vice president now owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 191,000 shares of company stock valued at $287,440 and sold 75,700 shares valued at $4,171,150. 0.37% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. FNY Managed Accounts LLC purchased a new position in Delta Air Lines in the 1st quarter worth approximately $100,000. Mountain Capital Investment Advisors Inc purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $114,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Delta Air Lines by 40.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after acquiring an additional 793 shares during the period. Ruggie Capital Group boosted its holdings in Delta Air Lines by 1,187.0% in the 1st quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock worth $127,000 after acquiring an additional 2,552 shares during the period. Finally, BB&T Investment Services Inc. purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $128,000. Hedge funds and other institutional investors own 86.26% 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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