Delta Air Lines (NYSE:DAL) Reaches New 12-Month High Following Analyst Upgrade

Delta Air Lines, Inc. (NYSE:DAL)’s share price hit a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $59.00 to $75.00. TD Cowen currently has a buy rating on the stock. Delta Air Lines traded as high as $64.10 and last traded at $63.89, with a volume of 551076 shares changing hands. The stock had previously closed at $63.56.

A number of other analysts have also commented on the stock. Barclays boosted 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, October 11th. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group boosted their price objective on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Bank of America raised their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Susquehanna lifted their target price on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $67.73.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Delta Air Lines news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the transaction, the executive vice president now owns 58,897 shares in the company, valued at $3,688,130.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 in the last ninety days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Family Capital Management Inc. purchased a new stake in Delta Air Lines during the 3rd quarter worth about $203,000. Pitcairn Co. grew its stake in Delta Air Lines by 15.3% during the third quarter. Pitcairn Co. now owns 22,257 shares of the transportation company’s stock valued at $1,130,000 after acquiring an additional 2,958 shares in the last quarter. KKM Financial LLC grew its stake in Delta Air Lines by 7.0% during the third quarter. KKM Financial LLC now owns 51,084 shares of the transportation company’s stock valued at $2,595,000 after acquiring an additional 3,340 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Delta Air Lines by 13.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 26,193 shares of the transportation company’s stock worth $1,330,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Delta Air Lines by 41.8% in the 3rd quarter. Cerity Partners LLC now owns 313,226 shares of the transportation company’s stock worth $15,909,000 after purchasing an additional 92,273 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Stock Performance

The company’s fifty day simple moving average is $51.29 and its 200 day simple moving average is $48.30. The stock has a market capitalization of $41.34 billion, a P/E ratio of 8.83, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (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 the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 EPS. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.12 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

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.