Delta Air Lines (NYSE:DAL) Hits New 12-Month High Following Strong Earnings

Delta Air Lines, Inc. (NYSE:DAL) shares hit a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $68.99 and last traded at $68.19, with a volume of 8317204 shares trading hands. The stock had previously closed at $61.42.

The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DAL. Susquehanna upped their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group increased their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America raised their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $77.06.

Insider Activity

In related news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,809 shares of company stock valued at $7,871,765. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DAL. Future Financial Wealth Managment LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter worth $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines in the second quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Delta Air Lines during the third quarter valued at approximately $31,000. Modus Advisors LLC purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $33,000. Finally, Strategic Financial Concepts LLC bought a new position in Delta Air Lines in the 2nd quarter valued at $36,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Price Performance

The stock has a market capitalization of $43.77 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35. The business’s 50-day moving average price is $62.10 and its 200 day moving average price is $51.73. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39.

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.