TD Cowen Boosts Delta Air Lines (NYSE:DAL) Price Target to $61.00

Delta Air Lines (NYSE:DAL) had its target price lifted by TD Cowen from $55.00 to $61.00 in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a buy rating on the transportation company’s stock.

Several other brokerages have also recently weighed in on DAL. Bank of America lifted their price target on Delta Air Lines from $53.00 to $55.00 and gave the company a buy rating in a research report on Thursday, April 11th. Susquehanna increased their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a report on Tuesday, April 9th. Jefferies Financial Group dropped their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a buy rating on the stock in a research report on Friday, June 28th. Morgan Stanley reiterated an overweight rating and issued a $85.00 price objective on shares of Delta Air Lines in a research report on Thursday, April 11th. Finally, UBS Group began coverage on Delta Air Lines in a research report on Wednesday, March 20th. They set a buy rating and a $59.00 target price on the stock. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $60.30.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $47.39 on Tuesday. The company has a 50 day simple moving average of $50.52 and a two-hundred day simple moving average of $45.28. The stock has a market cap of $30.58 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.69 and a beta of 1.35. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, analysts predict that Delta Air Lines will post 6.58 earnings per share for the current year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s payout ratio is presently 5.14%.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $49.50 per share, with a total value of $495,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $495,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $49.50 per share, with a total value of $495,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $495,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,919 shares of company stock worth $8,834,653. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MeadowBrook Investment Advisors LLC acquired a new stake in Delta Air Lines during the fourth quarter worth about $27,000. Venturi Wealth Management LLC increased its holdings in shares of Delta Air Lines by 396.6% during the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after buying an additional 575 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Delta Air Lines by 26,166.7% during the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after buying an additional 785 shares during the period. Rise Advisors LLC raised its position in shares of Delta Air Lines by 122.5% during the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after buying an additional 452 shares during the period. Finally, Nordwand Advisors LLC acquired a new position in Delta Air Lines in the fourth quarter valued at approximately $40,000. 69.93% of the stock is owned by institutional investors and hedge funds.

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 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.