Delta Air Lines (DAL) Shares Gap Up to $52.91

Delta Air Lines, Inc. (NYSE:DAL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $52.55, but opened at $52.91. Delta Air Lines shares last traded at $53.02, with a volume of 2822238 shares traded.

Several research analysts have recently commented on DAL shares. Barclays started coverage on Delta Air Lines in a report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 target price on the stock. Cowen reissued a “buy” rating and issued a $66.00 target price on shares of Delta Air Lines in a report on Monday, August 14th. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Morgan Stanley reduced their target price on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. Finally, Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.39.

The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.54. The firm has a market cap of $37,480.00, a price-to-earnings ratio of 10.91, a PEG ratio of 1.59 and a beta of 1.28.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the business earned $1.70 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. analysts forecast that Delta Air Lines, Inc. will post 5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, November 16th. Delta Air Lines’s dividend payout ratio is 24.45%.

In other news, insider Steven M. Sear sold 6,898 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.01, for a total value of $365,662.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction on Thursday, October 12th. The shares were 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. In the last ninety days, insiders have sold 239,810 shares of company stock worth $12,684,903. Company insiders own 0.37% of the company’s stock.

Several hedge funds have recently bought and sold shares of DAL. Bessemer Group Inc. lifted its stake in shares of Delta Air Lines by 104.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,298 shares during the period. Beach Investment Management LLC. lifted its stake in shares of Delta Air Lines by 1,780.1% in the 2nd quarter. Beach Investment Management LLC. now owns 352,330 shares of the transportation company’s stock valued at $18,934,000 after purchasing an additional 333,590 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $1,344,000. BP PLC acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $1,182,000. Finally, HL Financial Services LLC lifted its stake in shares of Delta Air Lines by 8.4% in the 2nd quarter. HL Financial Services LLC now owns 70,020 shares of the transportation company’s stock valued at $3,763,000 after purchasing an additional 5,433 shares during the period. 85.24% of the stock is currently owned by institutional investors.

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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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