TD Cowen Forecasts Strong Price Appreciation for Delta Air Lines (NYSE:DAL) Stock

Delta Air Lines (NYSE:DAL) had its target price raised by stock analysts at TD Cowen from $55.00 to $66.00 in a research report issued on Monday, MarketBeat reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price suggests a potential upside of 18.34% from the company’s current price.

A number of other research analysts have also commented on DAL. Wall Street Zen lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Raymond James Financial cut their price objective on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Dbs Bank lowered shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Sanford C. Bernstein set a $60.00 price target on shares of Delta Air Lines and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.21.

Delta Air Lines Stock Down 4.0%

Delta Air Lines stock opened at $55.77 on Monday. The company has a market cap of $36.42 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.49. The company has a fifty day simple moving average of $49.90 and a 200 day simple moving average of $52.60. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Delta Air Lines has a 1-year low of $34.74 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm had revenue of $15,507,000 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same period in the prior year, the firm posted $2.36 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the sale, the executive vice president owned 131,731 shares of the company’s stock, valued at approximately $7,318,974.36. The trade was a 25.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors have recently bought and sold shares of the company. HighPoint Advisor Group LLC lifted its position in shares of Delta Air Lines by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company’s stock worth $554,000 after acquiring an additional 155 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Woodmont Investment Counsel LLC increased its position in shares of Delta Air Lines by 0.5% during the 4th quarter. Woodmont Investment Counsel LLC now owns 41,790 shares of the transportation company’s stock valued at $2,528,000 after purchasing an additional 192 shares during the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Delta Air Lines by 4.2% in the 4th quarter. Nemes Rush Group LLC now owns 4,860 shares of the transportation company’s stock worth $294,000 after acquiring an additional 196 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Delta Air Lines by 0.4% in the 4th quarter. Utah Retirement Systems now owns 52,725 shares of the transportation company’s stock valued at $3,190,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.