Delta Air Lines (NYSE:DAL) Price Target Raised to $60.00 at Jefferies Financial Group

Delta Air Lines (NYSE:DAL) had its target price hoisted by Jefferies Financial Group from $56.00 to $60.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on the stock. Sanford C. Bernstein cut their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an outperform rating on the stock in a report on Friday, July 12th. BNP Paribas upgraded shares of Delta Air Lines to a strong-buy rating in a report on Thursday, September 19th. Finally, TD Cowen cut their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a buy rating on the stock in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $61.83.

Delta Air Lines Stock Performance

DAL opened at $49.27 on Wednesday. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The company has a market cap of $31.79 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. The firm’s 50-day moving average price is $43.35 and its 200-day moving average price is $46.71.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same quarter last year, the company earned $2.68 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Delta Air Lines will post 6.18 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling at Delta Air Lines

In other news, Director Willie Cw Chiang acquired 10,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were bought at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. TD Asset Management Inc lifted its holdings in Delta Air Lines by 1.6% in the 4th quarter. TD Asset Management Inc now owns 192,552 shares of the transportation company’s stock valued at $7,746,000 after purchasing an additional 3,059 shares in the last quarter. KBC Group NV increased its stake in shares of Delta Air Lines by 121.2% in the 4th quarter. KBC Group NV now owns 241,039 shares of the transportation company’s stock worth $9,697,000 after acquiring an additional 132,057 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Delta Air Lines in the 4th quarter worth $51,000. NEOS Investment Management LLC increased its stake in shares of Delta Air Lines by 35.3% in the 4th quarter. NEOS Investment Management LLC now owns 9,102 shares of the transportation company’s stock worth $366,000 after acquiring an additional 2,376 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Delta Air Lines by 4.3% in the 4th quarter. Rafferty Asset Management LLC now owns 84,843 shares of the transportation company’s stock worth $3,413,000 after acquiring an additional 3,476 shares during the last quarter. Hedge funds and other institutional investors 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.