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

Delta Air Lines (NYSE:DAL) had its price objective lifted by TD Cowen from $59.00 to $75.00 in a report published on Tuesday, MarketBeat.com reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the stock. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Bank of America upped their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Jefferies Financial Group upped their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Barclays upped their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $71.22.

Delta Air Lines Stock Down 1.2 %

Shares of NYSE:DAL opened at $64.07 on Tuesday. The company has a 50 day moving average price of $52.62 and a two-hundred day moving average price of $48.62. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The company has a market capitalization of $41.34 billion, a PE ratio of 8.90, a PEG ratio of 1.23 and a beta of 1.33. Delta Air Lines has a 52 week low of $35.28 and a 52 week high of $66.25.

Delta Air Lines (NYSE:DAL) last released 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 firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter in the prior year, the company earned $2.03 EPS. Delta Air Lines’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Delta Air Lines will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. Delta Air Lines’s dividend payout ratio is 8.33%.

Insider Transactions at Delta Air Lines

In other news, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This represents a 11.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 21,530 shares of the company’s 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 approximately $1,197,608.72. The trade was a 52.15 % 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 worth $8,044,893 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

Institutional investors and hedge funds have recently modified their holdings of the company. Senator Investment Group LP raised its holdings in shares of 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 purchasing an additional 225,000 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of 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 purchasing an additional 13,802 shares during the period. Olstein Capital Management L.P. raised its holdings in shares of Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares during the period. River Road Asset Management LLC raised its holdings in shares of 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 purchasing an additional 24,249 shares during the period. Finally, abrdn plc raised its holdings in Delta Air Lines by 36.0% in the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after acquiring an additional 35,792 shares during the period. 69.93% of the stock is owned by institutional investors.

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.