Delta Air Lines (DAL) Shares Gap Up to $53.11

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Delta Air Lines, Inc. (NYSE:DAL)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $51.29, but opened at $53.11. Delta Air Lines shares last traded at $54.30, with a volume of 9183174 shares.

DAL has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Delta Air Lines from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Deutsche Bank downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating and cut their price objective for the stock from $64.00 to $53.00 in a report on Tuesday, July 3rd. ValuEngine downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Morgan Stanley cut their price objective on shares of Delta Air Lines from $67.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Finally, Stephens set a $65.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a report on Friday, July 13th. One analyst has rated the stock with a sell rating, one has issued 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 a consensus rating of “Buy” and an average target price of $67.99.

The company has a current ratio of 0.40, a quick ratio of 0.31 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $39.98 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.51 and a beta of 1.00.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.06. The company had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. During the same period in the previous year, the firm earned $1.57 EPS. On average, analysts anticipate that Delta Air Lines, Inc. will post 5.6 EPS for the current year.

In related news, EVP Joanne D. Smith sold 12,250 shares of the business’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $53.00, for a total value of $649,250.00. Following the transaction, the executive vice president now directly owns 107,575 shares of the company’s stock, valued at approximately $5,701,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $55.00, for a total transaction of $1,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 266,943 shares in the company, valued at $14,681,865. The disclosure for this sale can be found here. Insiders sold a total of 92,787 shares of company stock worth $4,992,726 over the last three months. 0.33% of the stock is owned by insiders.

Several large investors have recently modified their holdings of DAL. A.R.T. Advisors LLC purchased a new position in shares of Delta Air Lines in the 1st quarter worth about $838,000. Blair William & Co. IL raised its stake in Delta Air Lines by 16.2% in the 1st quarter. Blair William & Co. IL now owns 10,020 shares of the transportation company’s stock valued at $549,000 after acquiring an additional 1,395 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Delta Air Lines by 6.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 79,549 shares of the transportation company’s stock valued at $4,351,000 after acquiring an additional 4,799 shares during the period. LPL Financial LLC raised its stake in Delta Air Lines by 45.4% in the 1st quarter. LPL Financial LLC now owns 153,486 shares of the transportation company’s stock valued at $8,413,000 after acquiring an additional 47,938 shares during the period. Finally, Mariner LLC raised its stake in Delta Air Lines by 126.2% in the 1st quarter. Mariner LLC now owns 10,274 shares of the transportation company’s stock valued at $563,000 after acquiring an additional 5,732 shares during the period. 87.27% of the stock is currently owned by institutional investors.

About Delta Air Lines (NYSE:DAL)

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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