Delta Air Lines (NYSE:DAL) Price Target Raised to $60.00

Delta Air Lines (NYSE:DAL) had its target price lifted by Bank of America from $55.00 to $60.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on DAL. Sanford C. Bernstein raised their price target on Delta Air Lines from $62.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, October 8th. Jefferies Financial Group lifted their target price on shares of Delta Air Lines from $56.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, October 2nd. Barclays upped their price target on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an overweight rating in a research note on Friday. BNP Paribas raised shares of Delta Air Lines to a strong-buy rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an overweight rating in a report on Friday. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $65.40.

Delta Air Lines Trading Up 3.6 %

NYSE:DAL opened at $53.20 on Friday. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $44.50 and a 200 day moving average of $46.93.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 EPS. As a group, sell-side analysts anticipate that Delta Air Lines will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.63%.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds have recently bought and sold shares of DAL. Wesbanco Bank Inc. boosted its holdings in Delta Air Lines by 25.0% during the third quarter. Wesbanco Bank Inc. now owns 156,171 shares of the transportation company’s stock worth $7,932,000 after buying an additional 31,233 shares in the last quarter. Grove Bank & Trust increased its holdings in Delta Air Lines by 4.4% in the third quarter. Grove Bank & Trust now owns 15,318 shares of the transportation company’s stock valued at $778,000 after buying an additional 641 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Delta Air Lines by 42.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,789 shares of the transportation company’s stock worth $193,000 after acquiring an additional 1,135 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Delta Air Lines by 9.1% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 210,416 shares of the transportation company’s stock worth $10,687,000 after acquiring an additional 17,557 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its position in shares of Delta Air Lines by 13.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors 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.