Delta Air Lines (NYSE:DAL) PT Lowered to $59.00

Delta Air Lines (NYSE:DAL) had its target price decreased by TD Cowen from $61.00 to $59.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the transportation company’s stock.

DAL has been the subject of several other research reports. UBS Group initiated coverage on Delta Air Lines in a report on Wednesday, March 20th. They issued a buy rating and a $59.00 price objective for the company. Sanford C. Bernstein cut their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an outperform rating for the company in a report on Friday, July 12th. Susquehanna lifted their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a research note on Tuesday, April 9th. Bank of America boosted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Citigroup lifted their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $60.70.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $45.45 on Wednesday. The firm’s 50-day simple moving average is $49.16 and its 200 day simple moving average is $45.65. The stock has a market cap of $29.33 billion, a P/E ratio of 6.54, a P/E/G ratio of 0.94 and a beta of 1.35. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. Delta Air Lines’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 EPS. Equities analysts expect that Delta Air Lines will post 6.26 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio is currently 5.76%.

Insider Activity

In related news, EVP Alain Bellemare sold 24,073 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total value of $1,176,206.78. Following the sale, the executive vice president now owns 141,451 shares of the company’s stock, valued at approximately $6,911,295.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The disclosure for this sale can be found here. Insiders sold a total of 178,919 shares of company stock worth $8,834,653 in the last three months. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DAL. BTC Capital Management Inc. increased its position in shares of Delta Air Lines by 11.0% during the second quarter. BTC Capital Management Inc. now owns 14,801 shares of the transportation company’s stock valued at $702,000 after purchasing an additional 1,461 shares during the period. Mason & Associates Inc lifted its position in shares of Delta Air Lines by 8.6% during the 2nd quarter. Mason & Associates Inc now owns 4,804 shares of the transportation company’s stock worth $228,000 after buying an additional 380 shares during the period. 1858 Wealth Management LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at $236,000. Everpar Advisors LLC bought a new stake in Delta Air Lines in the second quarter valued at $271,000. Finally, Blue Trust Inc. raised its stake in Delta Air Lines by 5.2% during the second quarter. Blue Trust Inc. now owns 19,495 shares of the transportation company’s stock worth $933,000 after acquiring an additional 960 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.