J P Morgan Chase & Co Boosts Delta Air Lines, Inc. (DAL) Price Target to $68.00

Delta Air Lines, Inc. (NYSE:DAL) had its price target increased by J P Morgan Chase & Co from $63.00 to $68.00 in a report issued on Wednesday. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other brokerages have also commented on DAL. Cowen and Company increased their price target on Delta Air Lines from $58.00 to $66.00 and gave the company an outperform rating in a research note on Thursday, July 13th. Evercore ISI reaffirmed an outperform rating and issued a $66.00 price objective on shares of Delta Air Lines in a research note on Friday, July 14th. ValuEngine lowered Delta Air Lines from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Imperial Capital raised their price objective on Delta Air Lines from $52.00 to $54.00 and gave the company an in-line rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $80.00 price objective (up from $75.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $64.16.

Delta Air Lines (DAL) opened at $50.40 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.43. Delta Air Lines has a one year low of $41.75 and a one year high of $55.75. The company has a market capitalization of $35.93 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.53 and a beta of 1.28.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. equities analysts anticipate that Delta Air Lines will post 5.01 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.42%. Delta Air Lines’s payout ratio is 24.45%.

In other news, Director George N. Mattson acquired 6,000 shares of Delta Air Lines stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now directly owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 159,240 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total value of $8,449,274.40. The disclosure for this sale can be found here. Over the last quarter, insiders bought 20,000 shares of company stock worth $273,760 and sold 200,001 shares worth $10,630,333. Corporate insiders own 0.37% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Delta Air Lines by 2,951.4% during the 1st quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares during the period. Vanguard Group Inc. increased its holdings in Delta Air Lines by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock worth $2,415,714,000 after purchasing an additional 274,997 shares during the period. Lansdowne Partners UK LLP increased its holdings in Delta Air Lines by 7.3% during the 1st quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after purchasing an additional 1,918,036 shares during the period. AQR Capital Management LLC increased its holdings in Delta Air Lines by 15.8% during the 1st quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock worth $439,900,000 after purchasing an additional 1,308,115 shares during the period. Finally, Boston Partners increased its holdings in Delta Air Lines by 2.5% during the 2nd quarter. Boston Partners now owns 7,774,829 shares of the transportation company’s stock worth $417,820,000 after purchasing an additional 190,531 shares during the period. Institutional investors own 87.68% of the company’s stock.

Delta Air Lines Company Profile

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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