TD Cowen Forecasts Strong Price Appreciation for Delta Air Lines (NYSE:DAL) Stock

Delta Air Lines (NYSE:DAL) had its price target lifted by equities researchers at TD Cowen from $45.00 to $50.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price points to a potential upside of 22.31% from the stock’s current price.

Several other research firms have also issued reports on DAL. Susquehanna dropped their price target on shares of Delta Air Lines from $80.00 to $50.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group cut their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citigroup lowered their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. UBS Group cut Delta Air Lines from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $42.00 in a research report on Monday. Finally, Raymond James dropped their price target on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Moderate Buy” and an average target price of $61.06.

Delta Air Lines Stock Up 3.9 %

Shares of DAL stock opened at $40.88 on Thursday. The firm’s fifty day moving average price is $52.37 and its two-hundred day moving average price is $57.69. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines has a 1 year low of $34.74 and a 1 year high of $69.98. The firm has a market capitalization of $26.43 billion, a P/E ratio of 7.67, a PEG ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts predict that Delta Air Lines will post 7.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock worth $11,116,463 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

Several large investors have recently made changes to their positions in DAL. Orion Portfolio Solutions LLC grew its position in Delta Air Lines by 14.0% in the third quarter. Orion Portfolio Solutions LLC now owns 19,541 shares of the transportation company’s stock valued at $992,000 after acquiring an additional 2,401 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Delta Air Lines by 18.4% during the 3rd quarter. MML Investors Services LLC now owns 71,389 shares of the transportation company’s stock valued at $3,626,000 after purchasing an additional 11,094 shares during the last quarter. Geode Capital Management LLC lifted its stake in Delta Air Lines by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock valued at $789,452,000 after purchasing an additional 416,338 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Delta Air Lines by 17.0% in the third quarter. Coldstream Capital Management Inc. now owns 13,224 shares of the transportation company’s stock valued at $700,000 after buying an additional 1,920 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in shares of Delta Air Lines by 6.8% during the third quarter. Arete Wealth Advisors LLC now owns 6,222 shares of the transportation company’s stock worth $315,000 after buying an additional 395 shares during the last quarter. 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.