Delta Air Lines (NYSE:DAL) Downgraded to “Hold” at ValuEngine

Delta Air Lines (NYSE:DAL) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Several other brokerages have also commented on DAL. Bank of America reiterated a “neutral” rating and issued a $59.00 price target (up from $55.00) on shares of Delta Air Lines in a research note on Thursday, April 4th. Raymond James increased their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Cowen reiterated an “outperform” rating and issued a $69.00 price target (up from $67.00) on shares of Delta Air Lines in a research note on Thursday, July 11th. Buckingham Research increased their price target on shares of Delta Air Lines from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Morgan Stanley increased their price target on shares of Delta Air Lines from $61.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.56.

Shares of DAL stock traded down $0.19 during trading hours on Thursday, reaching $60.13. 3,731,897 shares of the stock were exchanged, compared to its average volume of 6,525,024. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 0.48 and a beta of 1.18. Delta Air Lines has a 12-month low of $45.08 and a 12-month high of $63.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29. The stock has a fifty day moving average price of $59.32.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.07. The company had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 earnings per share. As a group, research analysts predict that Delta Air Lines will post 7.06 EPS for the current year.

In other news, SVP William C. Carroll sold 6,384 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total transaction of $395,552.64. Following the transaction, the senior vice president now directly owns 23,010 shares in the company, valued at $1,425,699.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Sear sold 8,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total transaction of $479,057.11. Following the transaction, the insider now owns 76,150 shares in the company, valued at $4,056,510.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,288 shares of company stock worth $5,753,311. Insiders own 0.47% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Washington Trust Bank lifted its holdings in shares of Delta Air Lines by 141.3% during the first quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after purchasing an additional 284 shares during the period. Kistler Tiffany Companies LLC acquired a new stake in Delta Air Lines in the first quarter valued at $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Delta Air Lines in the first quarter valued at $26,000. Northwest Wealth Management LLC acquired a new stake in Delta Air Lines in the first quarter valued at $26,000. Finally, Paragon Capital Management LLC acquired a new stake in Delta Air Lines in the first quarter valued at $26,000. Institutional investors and hedge funds own 87.74% 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 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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