Delta Air Lines’ (DAL) “Outperform” Rating Reiterated at Cowen

Cowen reaffirmed their outperform rating on shares of Delta Air Lines (NYSE:DAL) in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports. They currently have a $69.00 price objective on the transportation company’s stock, up from their prior price objective of $67.00.

DAL has been the topic of a number of other research reports. Stephens reiterated an overweight rating and set a $70.00 price target on shares of Delta Air Lines in a report on Wednesday, July 3rd. Citigroup lifted their price target on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a report on Thursday, April 11th. Stifel Nicolaus lifted their price target on Rapid7 from $52.00 to $58.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Wolfe Research set a $68.00 price target on Delta Air Lines and gave the company a buy rating in a report on Wednesday, July 3rd. Finally, Credit Suisse Group lifted their price target on Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $67.18.

Shares of NYSE DAL opened at $61.65 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. The firm has a market cap of $40.38 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18. The stock has a fifty day moving average of $56.03. Delta Air Lines has a 52-week low of $45.08 and a 52-week high of $62.24.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Delta Air Lines’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Delta Air Lines will post 6.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be given a dividend of $0.4025 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 dividend on an annualized basis and a yield of 2.61%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.

In related news, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the completion of the sale, the chief executive officer now owns 354,191 shares of the company’s stock, valued at $20,365,982.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total value of $479,057.11. Following the sale, the insider now directly owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,003 shares of company stock valued at $3,709,180. Insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank lifted its position in shares of Delta Air Lines by 141.3% in the first quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after buying an additional 284 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Delta Air Lines in the first quarter worth about $26,000. Northwest Wealth Management LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth about $26,000. Paragon Capital Management LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth about $26,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth about $26,000. 87.21% of the stock is owned by hedge funds and other institutional investors.

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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