Delta Air Lines (NYSE:DAL – Get Free Report) had its target price lowered by equities research analysts at Seaport Research Partners from $108.00 to $95.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the transportation company’s stock. Seaport Research Partners’ price objective suggests a potential upside of 11.83% from the stock’s previous close.
Several other brokerages have also recently issued reports on DAL. Rothschild & Co Redburn boosted their price objective on shares of Delta Air Lines from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of Delta Air Lines in a research note on Monday, August 3rd. BMO Capital Markets increased their price target on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Argus set a $105.00 price objective on shares of Delta Air Lines in a research report on Tuesday, July 14th. Finally, UBS Group lifted their price objective on Delta Air Lines from $99.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.62.
View Our Latest Stock Report on DAL
Delta Air Lines Stock Up 2.6%
Delta Air Lines (NYSE:DAL – Get Free Report) last released its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts expect that Delta Air Lines will post 6.23 earnings per share for the current year.
Insider Activity at Delta Air Lines
In related news, Director Michael P. Huerta sold 3,100 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $94.11, for a total value of $291,741.00. Following the sale, the director directly owned 32,525 shares in the company, valued at $3,060,927.75. The trade was a 8.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 206,510 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the transaction, the chief executive officer owned 1,363,448 shares of the company’s stock, valued at $126,527,974.40. This trade represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 356,726 shares of company stock valued at $33,081,037 in the last 90 days. 0.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Capital International Investors lifted its stake in Delta Air Lines by 4.4% in the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock valued at $1,680,249,000 after buying an additional 1,012,265 shares in the last quarter. Geode Capital Management LLC increased its position in Delta Air Lines by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company’s stock worth $1,215,766,000 after buying an additional 202,865 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Delta Air Lines in the second quarter worth $1,182,646,000. Capital World Investors lifted its position in shares of Delta Air Lines by 0.6% in the fourth quarter. Capital World Investors now owns 8,395,096 shares of the transportation company’s stock valued at $582,620,000 after acquiring an additional 46,341 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Delta Air Lines by 55.0% during the fourth quarter. Allianz Asset Management GmbH now owns 4,327,719 shares of the transportation company’s stock valued at $300,344,000 after acquiring an additional 1,536,138 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.
About Delta Air Lines
Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.
Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.
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