Delta Air Lines (NYSE:DAL) Receives Outperform Rating from Cowen

Cowen restated their outperform rating on shares of Delta Air Lines (NYSE:DAL) in a research note released on Thursday morning, Briefing.com Automated Import reports. They currently have a $69.00 target price on the transportation company’s stock, up from their previous target price of $67.00.

A number of other equities research analysts have also weighed in on DAL. Imperial Capital lowered their target price on Montage Resources from $9.00 to $6.00 and set an inline rating for the company in a research note on Wednesday. Morgan Stanley boosted their target price on United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a research note on Monday, May 20th. Wolfe Research set a $68.00 target price on Delta Air Lines and gave the company a buy rating in a research note on Wednesday, July 3rd. Citigroup boosted their target price on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, Credit Suisse Group boosted their target price on Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $67.18.

Shares of NYSE DAL traded up $1.28 during midday trading on Thursday, reaching $61.44. The company had a trading volume of 4,639,165 shares, compared to its average volume of 5,152,218. Delta Air Lines has a one year low of $45.08 and a one year high of $61.32. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.29 and a current ratio of 0.34. The company’s fifty day simple moving average is $55.87. The company has a market cap of $38.95 billion, a PE ratio of 10.87, a PEG ratio of 0.62 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.07. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The company had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter in the previous year, the company posted $1.77 EPS. Delta Air Lines’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Delta Air Lines will post 6.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.4025 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.62%. Delta Air Lines’s dividend payout ratio is 24.78%.

In other Delta Air Lines news, CEO Edward H. Bastian sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the transaction, the chief executive officer now owns 354,191 shares in the company, valued at approximately $20,365,982.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter W. Carter sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now owns 85,295 shares in the company, valued at approximately $4,947,962.95. The disclosure for this sale can be found here. Insiders have sold a total of 65,003 shares of company stock worth $3,709,180 in the last quarter. Company insiders own 0.47% of the company’s stock.

Several hedge funds have recently bought and sold shares of DAL. Pineno Levin & Ford Asset Management Inc. grew its stake in shares of Delta Air Lines by 0.4% in the 1st quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,643 shares of the transportation company’s stock worth $2,719,000 after buying an additional 190 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Delta Air Lines by 14.0% during the 1st quarter. Global Retirement Partners LLC now owns 1,772 shares of the transportation company’s stock valued at $92,000 after buying an additional 217 shares during the period. Keystone Financial Group lifted its holdings in shares of Delta Air Lines by 5.6% during the 1st quarter. Keystone Financial Group now owns 4,433 shares of the transportation company’s stock valued at $229,000 after buying an additional 234 shares during the period. Pinnacle Bank lifted its holdings in shares of Delta Air Lines by 12.1% during the 2nd quarter. Pinnacle Bank now owns 2,184 shares of the transportation company’s stock valued at $124,000 after buying an additional 235 shares during the period. Finally, First Manhattan Co. lifted its holdings in shares of Delta Air Lines by 39.7% during the 1st quarter. First Manhattan Co. now owns 838 shares of the transportation company’s stock valued at $43,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 87.21% 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Featured Story: What are popular green investing opportunities?

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.