Delta Air Lines (NYSE:DAL) Price Target Lowered to $62.00 at Raymond James

Delta Air Lines (NYSE:DAL) had its price objective decreased by Raymond James from $80.00 to $62.00 in a report released on Wednesday,Benzinga reports. Raymond James currently has a strong-buy rating on the transportation company’s stock.

A number of other analysts have also issued reports on the company. TD Cowen raised their target price on Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Susquehanna increased their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Jefferies Financial Group restated a “hold” rating and set a $46.00 price objective (down previously from $85.00) on shares of Delta Air Lines in a report on Tuesday. Finally, Citigroup reduced their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $71.77.

Delta Air Lines Trading Up 2.3 %

Shares of DAL stock opened at $43.38 on Wednesday. Delta Air Lines has a 12 month low of $37.29 and a 12 month high of $69.98. The company has a market cap of $28.04 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $57.49 and its two-hundred day moving average is $58.26.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.28 EPS. Equities analysts predict that Delta Air Lines will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.38%. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 6,783 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total transaction of $447,271.02. Following the sale, the senior vice president now directly owns 10,016 shares in the company, valued at $660,455.04. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,886 shares of company stock valued at $11,116,463. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Several large investors have recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in Delta Air Lines during the 4th quarter valued at about $27,000. Hemington Wealth Management lifted its holdings in Delta Air Lines by 48.1% in the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares during the period. Roxbury Financial LLC bought a new position in Delta Air Lines in the fourth quarter valued at approximately $29,000. Crews Bank & Trust acquired a new stake in Delta Air Lines during the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Company Profile

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.