Investors Buy Shares of Delta Air Lines, Inc. (DAL) on Weakness
Traders purchased shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading on Thursday. $133.23 million flowed into the stock on the tick-up and $79.71 million flowed out of the stock on the tick-down, for a money net flow of $53.52 million into the stock. Of all stocks tracked, Delta Air Lines had the 3rd highest net in-flow for the day. Delta Air Lines traded down ($0.59) for the day and closed at $52.27
A number of equities analysts have recently issued reports on DAL shares. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 target price for the company in a report on Tuesday, July 25th. BidaskClub cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Deutsche Bank AG reissued a “buy” rating and issued a $62.00 target price (up from $58.00) on shares of Delta Air Lines in a report on Friday, July 14th. Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th. Finally, UBS AG reissued a “buy” rating and issued a $62.00 target price (down from $65.00) on shares of Delta Air Lines in a report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $63.84.
The stock has a market capitalization of $37.43 billion, a P/E ratio of 10.51 and a beta of 1.24. The company’s 50 day moving average is $49.51 and its 200-day moving average is $49.68.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. Equities analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
In related news, insider Steven M. Sear sold 6,898 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.01, for a total value of $365,662.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total value of $8,449,274.40. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 75,000 shares of company stock valued at $278,160 and sold 200,001 shares valued at $10,630,333. Corporate insiders own 0.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DAL. FNY Managed Accounts LLC acquired a new stake in Delta Air Lines in the first quarter valued at $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in Delta Air Lines in the second quarter valued at $114,000. BB&T Investment Services Inc. acquired a new stake in Delta Air Lines in the second quarter valued at $128,000. Bessemer Group Inc. increased its holdings in Delta Air Lines by 104.3% in the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,298 shares during the period. Finally, Advisory Services Network LLC increased its holdings in Delta Air Lines by 3.0% in the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 86.22% of the company’s stock.
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Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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