Cowen Reaffirms “Buy” Rating for Delta Air Lines (DAL)

Cowen restated their buy rating on shares of Delta Air Lines (NYSE:DAL) in a research report report published on Tuesday.

Several other research analysts have also issued reports on DAL. ValuEngine lowered shares of Delta Air Lines from a strong-buy rating to a buy rating in a research note on Monday, April 2nd. Morgan Stanley increased their target price on shares of Delta Air Lines from $64.00 to $67.00 and gave the stock an overweight rating in a research note on Monday, March 19th. Stephens set a $71.00 target price on shares of Delta Air Lines and gave the stock a buy rating in a research note on Thursday, March 29th. Zacks Investment Research lowered shares of Delta Air Lines from a buy rating to a hold rating in a research note on Monday, March 19th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $85.00 price objective (up from $75.00) on shares of Delta Air Lines in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines presently has a consensus rating of Buy and a consensus price target of $67.75.

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Shares of NYSE DAL opened at $53.05 on Tuesday. The firm has a market cap of $38,321.77, a P/E ratio of 10.97 and a beta of 1.08. Delta Air Lines has a 12-month low of $43.81 and a 12-month high of $60.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.42.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, January 11th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Delta Air Lines had a net margin of 8.67% and a return on equity of 26.27%. Delta Air Lines’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. equities research analysts predict that Delta Air Lines will post 6.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, February 22nd. Delta Air Lines’s dividend payout ratio (DPR) is 24.75%.

In related news, CFO Paul A. Jacobson sold 49,362 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $60.20, for a total transaction of $2,971,592.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George N. Mattson purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $51.89 per share, for a total transaction of $518,900.00. Following the completion of the transaction, the director now directly owns 66,510 shares of the company’s stock, valued at $3,451,203.90. The disclosure for this purchase can be found here. Insiders have sold 114,250 shares of company stock worth $6,794,500 over the last three months. 0.37% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAL. Buckingham Capital Management Inc. lifted its position in shares of Delta Air Lines by 14.5% during the third quarter. Buckingham Capital Management Inc. now owns 29,747 shares of the transportation company’s stock valued at $1,434,000 after purchasing an additional 3,777 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Delta Air Lines during the third quarter valued at about $256,000. Legal & General Group Plc lifted its position in shares of Delta Air Lines by 3.4% during the third quarter. Legal & General Group Plc now owns 1,246,610 shares of the transportation company’s stock valued at $60,111,000 after purchasing an additional 41,278 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Delta Air Lines by 0.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 444,061 shares of the transportation company’s stock worth $21,413,000 after buying an additional 1,115 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Delta Air Lines by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 7,821,694 shares of the transportation company’s stock worth $377,169,000 after buying an additional 250,731 shares during the last quarter. 87.59% of the stock is currently owned by institutional investors.

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Delta Air Lines Company Profile

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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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