Equities researchers at Seaport Global Securities initiated coverage on shares of Delta Air Lines (NYSE:DAL) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $43.00 price target on the transportation company’s stock. Seaport Global Securities’ target price indicates a potential upside of 24.39% from the company’s current price.

Several other analysts also recently weighed in on the stock. TheStreet downgraded shares of Delta Air Lines from a “c” rating to a “d” rating in a research report on Tuesday, July 14th. Cowen initiated coverage on shares of Delta Air Lines in a report on Friday, May 29th. They issued a “buy” rating and a $33.00 price objective on the stock. Citigroup upped their price objective on shares of Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 15th. Credit Suisse Group reaffirmed a “market perform” rating and issued a $42.00 price objective on shares of Delta Air Lines in a report on Friday, June 12th. Finally, Zacks Investment Research raised shares of Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.21.

Shares of Delta Air Lines stock opened at $34.57 on Tuesday. The company has a market cap of $22.05 billion, a P/E ratio of -5.93 and a beta of 1.32. Delta Air Lines has a 52-week low of $17.51 and a 52-week high of $62.48. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 2.23. The firm’s 50 day moving average price is $29.20 and its 200-day moving average price is $28.35.

Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, July 14th. The transportation company reported ($4.43) earnings per share for the quarter, missing the consensus estimate of ($4.24) by ($0.19). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Delta Air Lines had a negative return on equity of 4.02% and a negative net margin of 10.74%. The firm’s revenue for the quarter was down 88.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.35 EPS. As a group, equities research analysts forecast that Delta Air Lines will post -9.45 EPS for the current fiscal year.

In related news, CFO Paul A. Jacobson sold 25,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.70, for a total value of $792,500.00. Also, EVP Steven M. Sear sold 14,127 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $28.98, for a total transaction of $409,400.46. Following the completion of the sale, the executive vice president now directly owns 83,938 shares of the company’s stock, valued at approximately $2,432,523.24. The disclosure for this sale can be found here. Insiders sold 57,127 shares of company stock valued at $1,723,900 in the last three months. 0.63% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new position in Delta Air Lines during the second quarter worth about $49,000. Campbell Wealth Management purchased a new position in Delta Air Lines during the second quarter worth about $25,000. Bedel Financial Consulting Inc. boosted its stake in Delta Air Lines by 143.6% during the second quarter. Bedel Financial Consulting Inc. now owns 899 shares of the transportation company’s stock worth $25,000 after buying an additional 530 shares during the period. Sandy Spring Bank acquired a new stake in shares of Delta Air Lines during the second quarter worth about $25,000. Finally, Bourgeon Capital Management LLC lifted its position in shares of Delta Air Lines by 400.0% during the second quarter. Bourgeon Capital Management LLC now owns 1,000 shares of the transportation company’s stock worth $28,000 after purchasing an additional 800 shares in the last quarter. 58.31% of the stock is owned by institutional investors.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Black Swan

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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