Delta Air Lines (NYSE:DAL) Reaches New 12-Month High – Should You Buy?

Delta Air Lines, Inc. (NYSE:DAL)’s stock price hit a new 52-week high on Thursday . The company traded as high as $70.71 and last traded at $69.9970, with a volume of 2327194 shares changing hands. The stock had previously closed at $69.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets upgraded Delta Air Lines to a “strong-buy” rating in a research report on Tuesday. UBS Group boosted their price target on shares of Delta Air Lines from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Seaport Global Securities increased their price target on Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Rothschild & Co Redburn raised their price objective on shares of Delta Air Lines from $65.00 to $72.00 in a research report on Tuesday, October 14th. Finally, Raymond James Financial boosted their target price on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average target price of $73.40.

Delta Air Lines Stock Down 0.1%

The business has a 50-day simple moving average of $60.42 and a two-hundred day simple moving average of $56.74. The company has a market cap of $45.62 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.58 and a beta of 1.38. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The firm had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. As a group, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were paid a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.1%. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Insider Activity

In related news, SVP William C. Carroll sold 14,010 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total value of $858,112.50. Following the completion of the transaction, the senior vice president directly owned 15,816 shares in the company, valued at approximately $968,730. This represents a 46.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the transaction, the executive vice president directly owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Delta Air Lines by 33.5% in the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after purchasing an additional 2,302 shares during the period. National Bank of Canada FI grew its position in Delta Air Lines by 19.7% in the first quarter. National Bank of Canada FI now owns 251,604 shares of the transportation company’s stock valued at $10,969,000 after acquiring an additional 41,474 shares during the period. Zions Bancorporation National Association UT acquired a new position in Delta Air Lines during the first quarter worth $33,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Delta Air Lines during the first quarter worth $301,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Delta Air Lines by 35.0% during the first quarter. Benjamin Edwards Inc. now owns 22,126 shares of the transportation company’s stock valued at $965,000 after acquiring an additional 5,733 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

About Delta Air Lines

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.