Bank of America Raises Delta Air Lines (NYSE:DAL) Price Target to $100.00

Delta Air Lines (NYSE:DAL) had its target price boosted by equities researchers at Bank of America from $93.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential upside of 6.32% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Argus upped their price objective on shares of Delta Air Lines from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wells Fargo & Company boosted their target price on shares of Delta Air Lines from $75.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings cut shares of Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 6th. Susquehanna cut their price target on shares of Delta Air Lines from $81.00 to $78.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Finally, HSBC decreased their price objective on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.80.

Delta Air Lines Trading Up 0.4%

NYSE DAL traded up $0.40 on Wednesday, reaching $94.06. 799,428 shares of the company were exchanged, compared to its average volume of 9,832,909. The business’s fifty day moving average price is $77.62 and its 200 day moving average price is $71.44. The stock has a market capitalization of $61.79 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.51 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. Delta Air Lines has a fifty-two week low of $48.24 and a fifty-two week high of $95.14.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that Delta Air Lines will post 5.36 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Allison C. Ausband sold 9,710 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $76.00, for a total transaction of $737,960.00. Following the completion of the transaction, the executive vice president directly owned 138,854 shares in the company, valued at $10,552,904. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the completion of the transaction, the executive vice president directly owned 69,369 shares of the company’s stock, valued at approximately $4,727,497.35. This represents a 49.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 149,635 shares of company stock valued at $10,833,855. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors have recently modified their holdings of the business. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the 4th quarter worth $31,000. Camelot Portfolios LLC acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $34,000. Byrne Asset Management LLC purchased a new stake in shares of Delta Air Lines during the fourth quarter worth approximately $35,000. Beacon Financial Strategies CORP acquired a new stake in Delta Air Lines in the fourth quarter valued at approximately $36,000. Finally, Cornerstone Planning Group LLC raised its holdings in Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

About Delta Air Lines

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.