Delta Air Lines (NYSE:DAL) Cut to Market Perform at Cowen


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Cowen lowered shares of Delta Air Lines (NYSE:DAL) from an outperform rating to a market perform rating in a research report sent to investors on Monday, AnalystRatings.net reports. They currently have $44.00 price target on the transportation company’s stock.

DAL has been the topic of a number of other reports. Morgan Stanley decreased their target price on Delta Air Lines from $54.00 to $51.00 and set an overweight rating on the stock in a report on Wednesday, October 14th. Barclays increased their price target on shares of Delta Air Lines from $26.00 to $30.00 in a report on Friday, September 18th. Exane BNP Paribas assumed coverage on shares of Delta Air Lines in a report on Friday, November 13th. They issued an outperform rating and a $54.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Delta Air Lines from $45.00 to $51.00 and gave the stock an overweight rating in a research note on Wednesday, October 7th. Finally, UBS Group decreased their price target on shares of Delta Air Lines from $34.00 to $32.00 and set a neutral rating for the company in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $45.75.

DAL stock opened at $40.45 on Monday. Delta Air Lines has a fifty-two week low of $17.51 and a fifty-two week high of $62.48. The business’s 50 day moving average price is $40.73 and its two-hundred day moving average price is $33.05. The company has a debt-to-equity ratio of 8.88, a quick ratio of 1.23 and a current ratio of 1.27. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of -2.44 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Sunday, October 18th. The transportation company reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.10) by ($0.20). The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.12 billion. Delta Air Lines had a negative net margin of 42.88% and a negative return on equity of 39.69%. The business’s revenue was down 75.6% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. Sell-side analysts forecast that Delta Air Lines will post -10.6 earnings per share for the current year.

In other news, CEO Edward H. Bastian sold 65,000 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $33.58, for a total transaction of $2,182,700.00. Following the sale, the chief executive officer now directly owns 341,060 shares of the company’s stock, valued at $11,452,794.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson sold 125,000 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.84, for a total transaction of $4,480,000.00. Following the sale, the chief financial officer now directly owns 303,478 shares in the company, valued at $10,876,651.52. The disclosure for this sale can be found here. Insiders sold 255,487 shares of company stock worth $9,077,952 over the last ninety days. Corporate insiders own 0.63% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DAL. Aristeia Capital LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at $65,271,000. State Street Corp lifted its stake in shares of Delta Air Lines by 9.9% in the third quarter. State Street Corp now owns 21,548,591 shares of the transportation company’s stock valued at $658,956,000 after purchasing an additional 1,948,373 shares during the period. First Trust Advisors LP lifted its stake in shares of Delta Air Lines by 179.3% in the third quarter. First Trust Advisors LP now owns 1,700,034 shares of the transportation company’s stock valued at $51,987,000 after purchasing an additional 1,091,270 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Delta Air Lines by 54.1% in the second quarter. Two Sigma Advisers LP now owns 3,082,325 shares of the transportation company’s stock valued at $86,459,000 after purchasing an additional 1,082,400 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Delta Air Lines by 28.5% in the second quarter. Nuveen Asset Management LLC now owns 4,143,668 shares of the transportation company’s stock valued at $116,230,000 after purchasing an additional 918,867 shares during the period. 55.53% of the stock is currently owned by hedge funds and other institutional investors.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle, and Seoul-Incheon.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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