Delta Air Lines (DAL) Price Target Cut to $62.00 by Analysts at Bank of America

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Delta Air Lines (NYSE:DAL) had its price objective trimmed by Bank of America from $67.00 to $62.00 in a report released on Wednesday. The firm currently has a buy rating on the transportation company’s stock.

DAL has been the topic of several other research reports. Imperial Capital upped their price objective on Delta Air Lines from $65.00 to $71.00 and gave the company an outperform rating in a research note on Wednesday, August 22nd. ValuEngine raised shares of Delta Air Lines from a hold rating to a buy rating in a report on Tuesday, September 4th. Stephens reaffirmed a buy rating and issued a $68.00 price target on shares of Delta Air Lines in a report on Monday, October 1st. Macquarie set a $69.00 price target on shares of Delta Air Lines and gave the stock a buy rating in a report on Monday, October 8th. Finally, Buckingham Research increased their target price on Delta Air Lines from $64.00 to $71.00 and gave the company a buy rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Delta Air Lines presently has a consensus rating of Buy and a consensus price target of $67.55.

Delta Air Lines stock opened at $52.05 on Wednesday. Delta Air Lines has a 12 month low of $48.33 and a 12 month high of $60.79. The company has a current ratio of 0.40, a quick ratio of 0.31 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $39.98 billion, a P/E ratio of 10.56, a PEG ratio of 0.51 and a beta of 1.00.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 11th. The transportation company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.74 by $0.06. Delta Air Lines had a return on equity of 26.75% and a net margin of 7.72%. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.96 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. On average, analysts predict that Delta Air Lines will post 5.6 earnings per share for the current year.

In other news, VP Craig M. Meynard sold 1,793 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $54.31, for a total transaction of $97,377.83. Following the completion of the transaction, the vice president now directly owns 7,170 shares in the company, valued at $389,402.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel A. Carp sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $51.53, for a total transaction of $1,288,250.00. Following the transaction, the director now owns 45,123 shares of the company’s stock, valued at $2,325,188.19. The disclosure for this sale can be found here. Insiders sold 102,787 shares of company stock valued at $5,519,226 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in DAL. Huntington National Bank lifted its holdings in shares of Delta Air Lines by 73.8% during the second quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 1,147 shares during the last quarter. Nvwm LLC lifted its holdings in shares of Delta Air Lines by 558.5% during the first quarter. Nvwm LLC now owns 2,700 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 2,290 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Delta Air Lines during the second quarter valued at approximately $142,000. Summit Trail Advisors LLC lifted its holdings in shares of Delta Air Lines by 4,836.6% during the first quarter. Summit Trail Advisors LLC now owns 142,667 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 139,777 shares during the last quarter. Finally, Baker Ellis Asset Management LLC purchased a new position in shares of Delta Air Lines during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 87.27% 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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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