Delta Air Lines (NYSE:DAL) Price Target Raised to $93.00 at Bank of America

Delta Air Lines (NYSE:DAL) had its price target upped by equities research analysts at Bank of America from $78.00 to $93.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 8.77% from the stock’s current price.

Several other research analysts have also weighed in on DAL. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Wells Fargo & Company cut their target price on shares of Delta Air Lines from $87.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. HSBC reduced their price target on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating for the company in a report on Thursday, April 9th. Wolfe Research dropped their price objective on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley upped their price objective on Delta Air Lines from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.30.

Delta Air Lines Stock Up 1.6%

Shares of Delta Air Lines stock traded up $1.32 on Monday, reaching $85.50. 856,167 shares of the company were exchanged, compared to its average volume of 9,899,508. Delta Air Lines has a one year low of $45.28 and a one year high of $87.39. The company has a market capitalization of $56.17 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.16 and a beta of 1.30. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $74.69 and a 200 day moving average of $70.29.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the business earned $0.46 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Delta Air Lines will post 5.52 earnings per share for the current year.

Insider Activity

In other news, EVP John E. Laughter sold 69,304 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the transaction, the executive vice president owned 69,369 shares in the company, valued at approximately $4,727,497.35. This trade represents a 49.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the transaction, the executive vice president owned 138,854 shares in the company, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 149,635 shares of company stock valued at $10,833,855. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of institutional investors have recently modified their holdings of DAL. Accredited Wealth Management LLC grew its stake in shares of Delta Air Lines by 1,983.3% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 476 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Delta Air Lines in the 4th quarter worth about $31,000. SWAN Capital LLC boosted its holdings in Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 508 shares during the period. Camelot Portfolios LLC bought a new stake in Delta Air Lines in the 4th quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.