TD Cowen Cuts Delta Air Lines (NYSE:DAL) Price Target to $105.00

Delta Air Lines (NYSE:DAL) had its price target reduced by TD Cowen from $112.00 to $105.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

DAL has been the subject of a number of other reports. Raymond James Financial lowered shares of Delta Air Lines from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $104.00 in a research report on Monday, July 6th. Benchmark reaffirmed a “buy” rating on shares of Delta Air Lines in a report on Wednesday, July 8th. Bank of America increased their target price on shares of Delta Air Lines from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. BMO Capital Markets raised their price target on shares of Delta Air Lines from $80.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Delta Air Lines in a report on Monday, August 3rd. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Moderate Buy” and a consensus price target of $99.84.

Delta Air Lines Stock Performance

Shares of DAL opened at $83.18 on Monday. The stock’s 50-day simple moving average is $87.87 and its 200 day simple moving average is $76.57. The stock has a market capitalization of $54.70 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. Delta Air Lines has a 52-week low of $55.03 and a 52-week high of $95.68.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Research analysts forecast that Delta Air Lines will post 6.42 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, July 9th. Delta Air Lines’s dividend payout ratio (DPR) is currently 14.26%.

Insiders Place Their Bets

In other Delta Air Lines news, CEO Edward H. Bastian sold 206,510 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the completion of the sale, the chief executive officer directly owned 1,363,448 shares in the company, valued at $126,527,974.40. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the transaction, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $8,810,718. This represents a 26.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 356,726 shares of company stock valued at $33,081,037 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds have recently added to or reduced their stakes in DAL. Markowski Investments purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at about $27,000. Timbuktu Capital Management LLC purchased a new stake in Delta Air Lines in the second quarter worth approximately $31,000. Elevation Wealth Partners LLC boosted its stake in Delta Air Lines by 195.9% in the second quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock worth $34,000 after buying an additional 237 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in Delta Air Lines during the fourth quarter valued at approximately $31,000. Finally, Camelot Portfolios LLC bought a new position in Delta Air Lines during the fourth quarter valued at approximately $34,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.