Investors Buy Delta Air Lines (DAL) on Weakness

Investors bought shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Tuesday. $70.85 million flowed into the stock on the tick-up and $43.92 million flowed out of the stock on the tick-down, for a money net flow of $26.93 million into the stock. Of all companies tracked, Delta Air Lines had the 20th highest net in-flow for the day. Delta Air Lines traded down ($0.75) for the day and closed at $53.62

A number of equities analysts have recently weighed in on the stock. Imperial Capital raised shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Thursday, October 12th. Cowen boosted their price objective on shares of Delta Air Lines from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, October 12th. Vetr lowered shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 price objective for the company. in a research report on Wednesday, November 29th. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 price target (up previously from $56.00) on shares of Delta Air Lines in a research report on Wednesday, October 4th. 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 company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.39.

The company has a market capitalization of $38,115.54, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 earnings per share. analysts forecast that Delta Air Lines, Inc. will post 5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $0.305 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.28%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.50%.

In related news, EVP Joanne D. Smith sold 33,863 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $53.61, for a total value of $1,815,395.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 239,810 shares of company stock worth $12,684,903. Corporate insiders own 0.37% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in DAL. Bessemer Group Inc. boosted its position in shares of Delta Air Lines by 104.3% during 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 in the last quarter. Beach Investment Management LLC. boosted its position in shares of Delta Air Lines by 1,780.1% during 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 in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Delta Air Lines by 31.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 443,203 shares of the transportation company’s stock valued at $23,818,000 after purchasing an additional 105,387 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Delta Air Lines by 34.9% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,121 shares of the transportation company’s stock valued at $436,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in shares of Delta Air Lines by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 6,296 shares of the transportation company’s stock valued at $338,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

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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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