Delta Air Lines (DAL) Rating Increased to Buy at ValuEngine

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Delta Air Lines (NYSE:DAL) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other equities research analysts have also weighed in on DAL. Imperial Capital lifted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, June 1st. Citigroup cut their target price on shares of Delta Air Lines from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, June 7th. Buckingham Research cut their target price on shares of Delta Air Lines from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 7th. Deutsche Bank cut their target price on shares of Delta Air Lines from $73.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, June 7th. Finally, Zacks Investment Research downgraded shares of Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $66.55.

Delta Air Lines stock opened at $57.21 on Tuesday. The stock has a market capitalization of $40.43 billion, a PE ratio of 11.68, a PEG ratio of 0.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.40 and a quick ratio of 0.31. Delta Air Lines has a 12-month low of $44.59 and a 12-month high of $60.79.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 12th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.05. The firm had revenue of $11.78 billion during the quarter, compared to analyst estimates of $11.73 billion. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. research analysts forecast that Delta Air Lines will post 5.58 EPS for the current year.

In other news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $55.00, for a total value of $1,925,000.00. Following the transaction, the chief executive officer now owns 266,943 shares of the company’s stock, valued at approximately $14,681,865. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Easter III sold 3,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,787 shares of company stock worth $6,276,276. Insiders own 0.33% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Pinnacle Associates Ltd. grew its position in shares of Delta Air Lines by 9.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 249,647 shares of the transportation company’s stock worth $13,683,000 after buying an additional 21,430 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Delta Air Lines by 16.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,631,537 shares of the transportation company’s stock worth $179,907,000 after buying an additional 499,562 shares during the last quarter. Elgethun Capital Management grew its position in shares of Delta Air Lines by 55.4% in the 2nd quarter. Elgethun Capital Management now owns 22,512 shares of the transportation company’s stock worth $1,120,000 after buying an additional 8,027 shares during the last quarter. Teacher Retirement System of Texas grew its position in Delta Air Lines by 32.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 664,239 shares of the transportation company’s stock worth $32,906,000 after purchasing an additional 160,879 shares during the last quarter. Finally, Greenleaf Trust grew its position in Delta Air Lines by 67.6% during the 2nd quarter. Greenleaf Trust now owns 6,754 shares of the transportation company’s stock worth $335,000 after purchasing an additional 2,725 shares during the last quarter. 87.30% 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 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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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