Delta Air Lines (NYSE:DAL) Stock Price Target Cut by Susquehanna

Delta Air Lines (NYSE:DAL) had its target price dropped by investment analysts at Susquehanna from $105.00 to $100.00 in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a “positive” rating on the transportation company’s stock. Susquehanna’s price target points to a potential upside of 21.77% from the stock’s previous close.

A number of other brokerages have also issued reports on DAL. Evercore increased their price target on Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Cantor Fitzgerald set a $101.00 price objective on Delta Air Lines in a research note on Friday, October 2nd. Zacks Research cut Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Raymond James Financial decreased their target price on Delta Air Lines from $104.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, August 24th. Finally, UBS Group reissued a “buy” rating on shares of Delta Air Lines in a report on Tuesday. Twenty-three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.01.

Delta Air Lines Price Performance

NYSE DAL opened at $82.12 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. Delta Air Lines has a 12 month low of $55.03 and a 12 month high of $95.68. The stock has a market cap of $54.00 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.36 and a beta of 1.34. The company’s 50 day moving average is $83.61 and its two-hundred day moving average is $79.82.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The firm had revenue of $17.67 billion during the quarter, compared to analysts’ expectations of $17.43 billion. During the same period in the prior year, the company posted $2.10 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts anticipate that Delta Air Lines will post 5.79 earnings per share for the current year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward Bastian sold 206,510 shares of Delta Air Lines stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total value of $19,164,128.00. Following the completion of the transaction, the chief executive officer directly owned 1,363,448 shares of the company’s stock, valued at $126,527,974.40. This trade represents a 13.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven Sear sold 40,460 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the completion of the sale, the executive vice president owned 104,404 shares in the company, valued at approximately $9,766,994.20. This trade represents a 27.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 356,726 shares of company stock valued at $33,081,037 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in shares of Delta Air Lines in the 2nd quarter worth about $1,182,646,000. Pacer Advisors Inc. grew its holdings in Delta Air Lines by 1,579.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company’s stock valued at $185,534,000 after purchasing an additional 2,514,193 shares during the last quarter. Great Lakes Advisors LLC bought a new position in Delta Air Lines during the 2nd quarter valued at about $160,265,000. Allianz Asset Management GmbH raised its position in Delta Air Lines by 55.0% in the 4th quarter. Allianz Asset Management GmbH now owns 4,327,719 shares of the transportation company’s stock worth $300,344,000 after purchasing an additional 1,536,138 shares during the period. Finally, River Road Asset Management LLC raised its position in Delta Air Lines by 339.5% in the 4th quarter. River Road Asset Management LLC now owns 1,288,956 shares of the transportation company’s stock worth $89,454,000 after purchasing an additional 995,685 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Trending Headlines about Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Delta has outperformed most airline peers since the Iran conflict began, a notable sign of relative strength. Analysts expect its premium-business and premium-ticket revenue to help offset elevated fuel expenses and capacity reductions. Delta Air Lines Stock Has Risen Above Sector Turbulence
• Positive Sentiment: Management continues to report resilient travel demand despite higher fares. Delta’s outlook calls for approximately $1.76 in third-quarter earnings per share and $18.92 billion in revenue, while nearly all of the 25 analysts tracked by one report retained Buy ratings. Delta CEO Ed Bastian sees no slowdown in travel demand
• Positive Sentiment: Citi maintained its Buy rating, and Susquehanna kept a positive rating despite lowering its price target from $105 to $100—still implying substantial upside from the reference price. Citi Sticks to Their Buy Rating for Delta Air Lines

About Delta Air Lines

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger and air freight transportation. The company serves destinations throughout the United States and connects customers to international markets across Europe, Asia, Latin America, Canada, Africa and the Caribbean through its own operations and regional airline partners.

Delta offers multiple classes of passenger service, including premium cabins and its main cabin, along with travel-related products such as vacation packages and loyalty benefits through the SkyMiles program.