Delta Air Lines (NYSE:DAL) Price Target Lowered to $62.00 at Raymond James

Delta Air Lines (NYSE:DAL) had its price objective reduced by Raymond James from $80.00 to $62.00 in a research report released on Wednesday,Benzinga reports. Raymond James currently has a strong-buy rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on DAL. UBS Group lowered their target price on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. TD Cowen raised their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays lowered their target price on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Citigroup cut their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus target price of $71.77.

Delta Air Lines Trading Up 2.3 %

DAL opened at $43.38 on Wednesday. The firm’s fifty day moving average is $57.49 and its two-hundred day moving average is $58.26. The firm has a market cap of $28.04 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. Delta Air Lines has a twelve month low of $37.29 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter last year, the business posted $1.28 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Delta Air Lines will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. Delta Air Lines’s dividend payout ratio is presently 11.26%.

Insider Activity

In related news, EVP Rahul D. Samant sold 17,970 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total value of $1,241,367.60. Following the sale, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This represents a 33.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. This trade represents a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by company insiders.

Institutional Trading of Delta Air Lines

Several hedge funds and other institutional investors have recently modified their holdings of DAL. New Wave Wealth Advisors LLC bought a new position in Delta Air Lines in the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of Delta Air Lines during the fourth quarter worth approximately $29,000. Hemington Wealth Management lifted its holdings in Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Crews Bank & Trust bought a new stake in Delta Air Lines in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after buying an additional 431 shares during the period. Institutional investors own 69.93% of the company’s stock.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.