Zacks Investment Research upgraded shares of Delta Air Lines, Inc. (NYSE:DAL) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $62.00 target price on the transportation company’s stock.
According to Zacks, “Shares of Delta rallied 19.9% in the last three months, handily outperforming the Zacks categorized Transportation Airline industry's gain of 10.2%. Delta received encouraging news recently on the passenger unit revenue front. The metric registered 3.5% year over year growth in May. The company is expected to perform well in the second quarter, results of which should be released later in the month. The positive sentiment surrounding the stock can be gauged from the fact that the the Zacks Consensus Estimate for the second quarter has increased 2.5% over the last month to $1.64 per share. The company's decision to hike quarterly dividend is also reassuring. Moreover, we are impressed with Delta’s employee-friendly approach as well as expansion and debt-reduction efforts. However, increasing costs are likely to once again hurt bottom-line growth in the second quarter of 2017.”
Several other analysts also recently weighed in on the company. Bank of America Corporation raised their target price on Delta Air Lines from $64.00 to $71.00 and gave the company a buy rating in a research note on Friday, June 30th. BidaskClub upgraded Delta Air Lines from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. ValuEngine upgraded Delta Air Lines from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. Atlantic Securities began coverage on Delta Air Lines in a research note on Tuesday, June 20th. They set an overweight rating and a $68.00 target price for the company. Finally, Vetr downgraded Delta Air Lines from a strong-buy rating to a buy rating and set a $55.68 target price for the company. in a research note on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $55.50.
Delta Air Lines (DAL) opened at 55.46 on Tuesday. The company has a 50-day moving average price of $50.96 and a 200-day moving average price of $48.99. Delta Air Lines has a 12-month low of $35.84 and a 12-month high of $55.50. The stock has a market capitalization of $40.37 billion, a price-to-earnings ratio of 10.23 and a beta of 1.22.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 12th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. Delta Air Lines had a return on equity of 28.67% and a net margin of 10.19%. The firm had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the prior year, the firm earned $1.32 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Delta Air Lines will post $5.12 earnings per share for the current year.
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In other Delta Air Lines news, COO W Gilbert West sold 26,131 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $50.47, for a total value of $1,318,831.57. Following the transaction, the chief operating officer now owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis S. Blake bought 5,665 shares of the business’s stock in a transaction on Monday, April 17th. The stock was acquired at an average cost of $44.12 per share, for a total transaction of $249,939.80. Following the acquisition, the director now directly owns 24,187 shares of the company’s stock, valued at $1,067,130.44. The disclosure for this purchase can be found here. In the last three months, insiders acquired 447,665 shares of company stock worth $285,300 and sold 55,606 shares worth $2,753,289. Company insiders own 0.37% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Delta Air Lines during the first quarter worth about $100,000. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth about $107,000. TrimTabs Asset Management LLC boosted its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Delta Air Lines during the first quarter worth about $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares in the last quarter. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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