Traders Buy Delta Air Lines (DAL) on Weakness

Investors bought shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Monday. $92.19 million flowed into the stock on the tick-up and $43.70 million flowed out of the stock on the tick-down, for a money net flow of $48.49 million into the stock. Of all stocks tracked, Delta Air Lines had the 12th highest net in-flow for the day. Delta Air Lines traded down ($0.10) for the day and closed at $52.85

A number of research firms recently commented on DAL. Imperial Capital reiterated an “outperform” rating and issued a $65.00 target price (up from $63.00) on shares of Delta Air Lines in a research note on Friday, January 12th. Stephens set a $67.00 target price on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Monday, December 18th. Sanford C. Bernstein set a $67.00 target price on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Vetr upgraded shares of Delta Air Lines from a “strong sell” rating to a “sell” rating and set a $49.97 target price for the company in a research note on Wednesday, January 3rd. Finally, Cowen lifted their target price on shares of Delta Air Lines from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Delta Air Lines currently has an average rating of “Buy” and an average target price of $65.35.

The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market cap of $37,410.00, a P/E ratio of 10.62, a P/E/G ratio of 0.71 and a beta of 1.14.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, January 11th. The transportation company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Delta Air Lines had a net margin of 8.67% and a return on equity of 26.28%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. analysts predict that Delta Air Lines, Inc. will post 6.44 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, February 22nd. Delta Air Lines’s payout ratio is 24.70%.

In related news, EVP Joanne D. Smith sold 894 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $56.50, for a total value of $50,511.00. Following the completion of the transaction, the executive vice president now directly owns 72,393 shares in the company, valued at approximately $4,090,204.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George N. Mattson bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $51.89 per share, with a total value of $518,900.00. Following the completion of the purchase, the director now owns 66,510 shares in the company, valued at $3,451,203.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 343,638 shares of company stock valued at $19,592,923. Company insiders own 0.37% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its stake in shares of Delta Air Lines by 205.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 205,772 shares of the transportation company’s stock valued at $11,523,000 after purchasing an additional 138,481 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Delta Air Lines by 63.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 203,107 shares of the transportation company’s stock valued at $11,374,000 after purchasing an additional 78,898 shares during the period. Delek Group Ltd. acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $17,876,000. J. Goldman & Co LP acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $12,017,000. Finally, Northern Oak Wealth Management Inc. lifted its stake in shares of Delta Air Lines by 7.8% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 134,451 shares of the transportation company’s stock valued at $7,529,000 after purchasing an additional 9,717 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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About Delta Air Lines

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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