UBS AG Reaffirms Buy Rating for Delta Air Lines, Inc. (DAL)
Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “buy” rating reissued by stock analysts at UBS AG in a research note issued to investors on Saturday. They presently have a $62.00 target price on the transportation company’s stock, down from their prior target price of $65.00. UBS AG’s price objective would suggest a potential upside of 28.58% from the stock’s current price.
Other analysts have also issued research reports about the company. ValuEngine lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Bank of America Corporation upped their target price on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Deutsche Bank AG restated a “buy” rating and set a $62.00 target price (up previously from $58.00) on shares of Delta Air Lines in a report on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (up previously from $75.00) on shares of Delta Air Lines in a report on Friday, July 14th. Finally, Vetr upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 target price for the company in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.58.
Delta Air Lines (NYSE DAL) traded down 0.19% on Friday, hitting $48.22. The stock had a trading volume of 5,533,145 shares. The stock’s 50-day moving average is $48.31 and its 200 day moving average is $49.10. Delta Air Lines has a 1-year low of $37.91 and a 1-year high of $55.75. The firm has a market capitalization of $35.10 billion, a price-to-earnings ratio of 9.56 and a beta of 1.25.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). The company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. On average, equities research analysts predict that Delta Air Lines will post $5.12 earnings per share for the current fiscal year.
In related news, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the transaction, the vice president now directly owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George N. Mattson bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares in the company, valued at $2,795,014.40. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 191,000 shares of company stock worth $287,440 and sold 75,700 shares worth $4,171,150. 0.37% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Roundview Capital LLC increased its position in shares of Delta Air Lines by 0.3% in the 2nd quarter. Roundview Capital LLC now owns 5,115 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 15 shares during the period. Patten Group Inc. grew its position in Delta Air Lines by 0.3% during the 1st quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock worth $420,000 after purchasing an additional 30 shares during the period. Traynor Capital Management Inc. grew its position in Delta Air Lines by 1.2% during the 2nd quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock worth $246,000 after purchasing an additional 58 shares during the period. Independent Advisor Alliance grew its position in Delta Air Lines by 0.8% during the 1st quarter. Independent Advisor Alliance now owns 8,254 shares of the transportation company’s stock worth $372,000 after purchasing an additional 64 shares during the period. Finally, MUFG Securities EMEA plc grew its position in Delta Air Lines by 1.2% during the 2nd quarter. MUFG Securities EMEA plc now owns 5,307 shares of the transportation company’s stock worth $285,000 after purchasing an additional 65 shares during the period. 86.26% of the stock is currently owned by hedge funds and other institutional investors.
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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