Traders Buy Delta Air Lines, Inc. (DAL) on Weakness
Investors bought shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading on Friday. $24.80 million flowed into the stock on the tick-up and $15.32 million flowed out of the stock on the tick-down, for a money net flow of $9.48 million into the stock. Of all companies tracked, Delta Air Lines had the 22nd highest net in-flow for the day. Delta Air Lines traded down ($0.30) for the day and closed at $50.11
A number of analysts have recently weighed in on the stock. Barclays PLC assumed coverage on shares of Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 target price on the stock. BidaskClub downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Wolfe Research upgraded shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. J P Morgan Chase & Co reiterated an “overweight” rating and set a $63.00 price target (down from $67.00) on shares of Delta Air Lines in a report on Wednesday, September 27th. Finally, Cowen Inc cut their price target on shares of Delta Air Lines from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $63.39.
The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $35,730.00, a P/E ratio of 10.50, a P/E/G ratio of 1.53 and a beta of 1.28.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.04. The business had revenue of $11.06 billion for 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 firm earned $1.70 EPS. research analysts forecast that Delta Air Lines, Inc. will post 5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.22 dividend on an annualized basis and a yield of 2.43%. Delta Air Lines’s dividend payout ratio is currently 24.45%.
In other Delta Air Lines news, EVP Joanne D. Smith sold 33,863 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $53.61, for a total value of $1,815,395.43. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter W. Carter sold 19,809 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $50.42, for a total transaction of $998,769.78. Following the completion of the transaction, the executive vice president now owns 67,077 shares in the company, valued at $3,382,022.34. The disclosure for this sale can be found here. Insiders sold a total of 219,810 shares of company stock worth $11,629,103 over the last 90 days. Insiders own 0.37% of the company’s stock.
Hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC lifted its position in shares of Delta Air Lines by 40.9% in the 2nd quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after purchasing an additional 220 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth approximately $114,000. Bessemer Group Inc. lifted its position in shares of Delta Air Lines by 104.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,298 shares during the period. Advisory Services Network LLC lifted its position in shares of Delta Air Lines by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after purchasing an additional 75 shares during the period. Finally, BB&T Investment Services Inc. purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth approximately $128,000. Institutional investors and hedge funds own 86.81% of the company’s stock.
About Delta Air Lines
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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