Delta Air Lines (NYSE:DAL) Stock Price Expected to Rise, TD Cowen Analyst Says

Delta Air Lines (NYSE:DAL) had its price target upped by stock analysts at TD Cowen from $78.00 to $90.00 in a report released on Monday, MarketBeat reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target suggests a potential upside of 36.03% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group lifted their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America increased their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Barclays lifted their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a report on Friday, November 15th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $66.16 on Monday. The firm has a market cap of $42.69 billion, a PE ratio of 9.19, a P/E/G ratio of 1.17 and a beta of 1.35. Delta Air Lines has a twelve month low of $36.34 and a twelve month high of $68.99. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $62.59 and a 200 day moving average price of $52.15.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the prior year, the company posted $1.28 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,809 shares of company stock valued at $7,871,765 over the last quarter. 0.96% of the stock is owned by insiders.

Institutional Trading of Delta Air Lines

Institutional investors have recently added to or reduced their stakes in the stock. Senator Investment Group LP grew its stake in shares of Delta Air Lines by 90.0% in the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after buying an additional 225,000 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Delta Air Lines by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after acquiring an additional 13,802 shares in the last quarter. KBC Group NV increased its stake in Delta Air Lines by 143.7% during the third quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after purchasing an additional 33,378 shares during the period. Olstein Capital Management L.P. lifted its position in shares of Delta Air Lines by 32.6% during the third quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 43,000 shares in the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of Delta Air Lines by 22.8% in the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after purchasing an additional 24,249 shares during the period. Institutional investors and hedge funds own 69.93% 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 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.