Raymond James Increases Delta Air Lines (NYSE:DAL) Price Target to $70.00

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Delta Air Lines (NYSE:DAL) had its price target increased by equities researchers at Raymond James from $68.00 to $70.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 13.54% from the stock’s current price.

Several other research analysts have also recently issued reports on DAL. Credit Suisse Group raised their price objective on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Wolfe Research set a $68.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Bank of America set a $152.00 price objective on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Imperial Capital reduced their price objective on Montage Resources from $9.00 to $6.00 and set an “inline” rating for the company in a research note on Wednesday. Finally, Stephens restated an “overweight” rating and issued a $70.00 price objective on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.18.

Shares of NYSE DAL opened at $61.65 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The firm has a market capitalization of $39.40 billion, a P/E ratio of 10.91, a PEG ratio of 0.48 and a beta of 1.18. The business has a 50-day simple moving average of $56.03. Delta Air Lines has a fifty-two week low of $45.08 and a fifty-two week high of $62.24.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same period last year, the business posted $1.77 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Delta Air Lines will post 6.92 EPS for the current year.

In related news, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 354,191 shares in the company, valued at $20,365,982.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Huerta sold 1,010 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $54.33, for a total value of $54,873.30. Following the transaction, the director now owns 5,670 shares of the company’s stock, valued at $308,051.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,003 shares of company stock valued at $3,709,180. 0.47% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Washington Trust Bank increased 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 valued at $25,000 after buying an additional 284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $26,000. Northwest Wealth Management LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $26,000. Paragon Capital Management LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $26,000. Finally, Kistler Tiffany Companies LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $26,000. Institutional investors own 87.21% 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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