Delta Air Lines (NYSE:DAL) Price Target Raised to $75.00

Delta Air Lines (NYSE:DAL) had its target price boosted by equities research analysts at Susquehanna from $59.00 to $75.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 24.25% from the company’s current price.

Several other analysts have also issued reports on the stock. Sanford C. Bernstein lifted their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. TD Cowen boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group raised their price objective on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $77.06.

Delta Air Lines Price Performance

Shares of NYSE:DAL traded up $0.32 during trading on Tuesday, reaching $60.36. 1,860,370 shares of the company’s stock traded hands, compared to its average volume of 7,196,946. The firm has a market cap of $38.95 billion, a PE ratio of 8.38, a P/E/G ratio of 1.21 and a beta of 1.35. Delta Air Lines has a fifty-two week low of $36.34 and a fifty-two week high of $67.50. 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 company has a 50-day simple moving average of $61.87 and a 200-day simple moving average of $51.51.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Delta Air Lines will post 6.08 earnings per share for the current year.

Insiders Place Their Bets

In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock valued at $8,044,893 over the last quarter. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Delta Air Lines

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

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.