Delta Air Lines (NYSE:DAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $65.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.15% from the stock’s previous close.
According to Zacks, “Delta kick-started the first-quarter 2019 earnings season in the airline space on a solid note, delivering better-than-expected earnings and revenues. Also, the carrier's performance with respect to unit revenues was highly encouraging in the first quarter. Additionally, it unveiled a bullish projection for second-quarter and 2019 owing to soild demand for air travel. For 2019, Delta expects revenues to grow 5-7%, up from its prior projection. These apart, the company’s efforts to reward its shareholders through dividends and buybacks are commendable. In the first quarter, the carrier returned approximately $1.6 billion to its shareholders through the above measures. Initiatives to reduce its debt levels are encouraging too. In fact, shares of Delta have outperformed its industry in a year's time. However, the decline in load factor in the first quarter due to capacity overexpansion is disappointing.”
A number of other equities analysts also recently commented on the stock. Bank of America downgraded shares of Delta Air Lines from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $51.00 in a research report on Monday, January 14th. Deutsche Bank downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 price target for the company. in a report on Friday, March 1st. Cowen increased their price target on shares of Delta Air Lines from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Stephens reiterated a “buy” rating on shares of Delta Air Lines in a report on Sunday, January 6th. Finally, Credit Suisse Group set a $67.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a report on Wednesday, January 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $66.21.
Shares of Delta Air Lines stock opened at $57.96 on Monday. The firm has a market cap of $38.02 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.71 and a beta of 1.08. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.05. Delta Air Lines has a one year low of $45.08 and a one year high of $61.32.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.06. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities research analysts forecast that Delta Air Lines will post 6.58 earnings per share for the current year.
In other Delta Air Lines news, Director Francis S. Blake bought 5,185 shares of the company’s stock in a transaction on Monday, January 28th. The stock was purchased at an average cost of $48.17 per share, for a total transaction of $249,761.45. Following the acquisition, the director now owns 47,885 shares of the company’s stock, valued at approximately $2,306,620.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO W Gilbert West sold 7,465 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $58.52, for a total transaction of $436,851.80. Following the transaction, the chief operating officer now owns 94,933 shares of the company’s stock, valued at $5,555,479.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,559,723 shares of company stock valued at $176,077,837 and have sold 111,901 shares valued at $6,010,888. Company insiders own 0.33% of the company’s stock.
Large investors have recently bought and sold shares of the business. CI Investments Inc. boosted its stake in shares of Delta Air Lines by 26.9% during the 3rd quarter. CI Investments Inc. now owns 677,100 shares of the transportation company’s stock worth $39,157,000 after purchasing an additional 143,600 shares during the last quarter. Franklin Resources Inc. raised its holdings in Delta Air Lines by 36.6% in the third quarter. Franklin Resources Inc. now owns 111,159 shares of the transportation company’s stock valued at $6,429,000 after buying an additional 29,762 shares during the period. Man Group plc raised its holdings in Delta Air Lines by 202.1% in the third quarter. Man Group plc now owns 373,548 shares of the transportation company’s stock valued at $21,602,000 after buying an additional 249,903 shares during the period. Point72 Asset Management L.P. purchased a new position in Delta Air Lines in the third quarter valued at approximately $17,216,000. Finally, Putnam Investments LLC raised its holdings in Delta Air Lines by 0.4% in the third quarter. Putnam Investments LLC now owns 858,663 shares of the transportation company’s stock valued at $49,657,000 after buying an additional 3,178 shares during the period. Hedge funds and other institutional investors own 88.01% of the company’s stock.
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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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