Delta Air Lines (DAL) Downgraded to “Equal Weight” at Morgan Stanley

Delta Air Lines (NYSE:DAL) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $61.00 price target on the transportation company’s stock, down from their prior price target of $62.00. Morgan Stanley’s price target points to a potential upside of 11.25% from the stock’s current price.

DAL has been the subject of a number of other reports. Stephens set a $63.00 price target on Delta Air Lines and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus raised their target price on Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Deutsche Bank downgraded Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 target price for the company. in a research note on Friday, March 1st. Finally, Buckingham Research raised their target price on Delta Air Lines from $62.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $65.56.

Shares of Delta Air Lines stock opened at $54.83 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. Delta Air Lines has a 1-year low of $45.08 and a 1-year high of $61.32. The stock has a market cap of $35.91 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.06. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. During the same period last year, the business posted $0.74 EPS. On average, sell-side analysts forecast that Delta Air Lines will post 6.65 earnings per share for the current year.

In other Delta Air Lines news, major shareholder Berkshire Hathaway Inc purchased 1,202,961 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $49.65 per share, with a total value of $59,727,013.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO W Gilbert West sold 36,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $51.51, for a total transaction of $1,854,360.00. Following the completion of the transaction, the chief operating officer now directly owns 100,799 shares in the company, valued at approximately $5,192,156.49. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,554,538 shares of company stock valued at $175,828,075 and sold 132,465 shares valued at $7,438,462. Company insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Washington Trust Bank lifted its position in Delta Air Lines by 141.3% in the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC bought a new position in Delta Air Lines in the 1st quarter valued at about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Delta Air Lines in the 1st quarter valued at about $26,000. Northwest Wealth Management LLC bought a new position in Delta Air Lines in the 1st quarter valued at about $26,000. Finally, Paragon Capital Management LLC bought a new position in shares of Delta Air Lines during the 1st quarter worth approximately $26,000. 91.60% of the stock is currently 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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