Delta Air Lines (NYSE:DAL) Shares Up 6.1%

Delta Air Lines, Inc. (NYSE:DAL) shares traded up 6.1% during trading on Friday . The stock traded as high as $36.67 and last traded at $36.46. 20,016,916 shares were traded during trading, a decline of 38% from the average session volume of 32,140,957 shares. The stock had previously closed at $34.38.

Several equities research analysts have weighed in on the company. Exane BNP Paribas began coverage on Delta Air Lines in a research report on Friday. They issued an “outperform” rating and a $54.00 price target on the stock. Berenberg Bank cut shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, September 2nd. Raymond James boosted their price target on shares of Delta Air Lines from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, September 30th. ValuEngine upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley lowered their target price on shares of Delta Air Lines from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $45.60.

The company has a market cap of $23.25 billion, a price-to-earnings ratio of -2.20 and a beta of 1.27. The firm has a 50-day simple moving average of $31.84 and a 200 day simple moving average of $28.69. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 8.88.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Sunday, October 18th. The transportation company reported ($3.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.10) by ($0.20). Delta Air Lines had a negative return on equity of 39.69% and a negative net margin of 42.88%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business posted $2.32 earnings per share. The business’s revenue was down 75.6% on a year-over-year basis. As a group, research analysts expect that Delta Air Lines, Inc. will post -10.52 EPS for the current year.

In other Delta Air Lines news, EVP Joanne D. Smith sold 13,532 shares of Delta Air Lines stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $36.81, for a total value of $498,112.92. Following the transaction, the executive vice president now directly owns 102,471 shares in the company, valued at approximately $3,771,957.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Glen W. Hauenstein sold 51,955 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $36.90, for a total value of $1,917,139.50. Following the completion of the transaction, the president now directly owns 264,393 shares in the company, valued at approximately $9,756,101.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,487 shares of company stock worth $9,870,452. 0.63% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Equitable Holdings Inc. increased its stake in Delta Air Lines by 47.7% in the 3rd quarter. Equitable Holdings Inc. now owns 20,171 shares of the transportation company’s stock valued at $617,000 after buying an additional 6,515 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Delta Air Lines by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 77,098 shares of the transportation company’s stock worth $2,358,000 after acquiring an additional 7,699 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Delta Air Lines by 501.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 90,871 shares of the transportation company’s stock worth $2,779,000 after acquiring an additional 75,765 shares during the period. Morgan Stanley raised its holdings in Delta Air Lines by 21.3% during the third quarter. Morgan Stanley now owns 4,756,129 shares of the transportation company’s stock worth $145,443,000 after purchasing an additional 834,150 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Delta Air Lines by 1.5% in the third quarter. Allianz Asset Management GmbH now owns 5,248,958 shares of the transportation company’s stock valued at $160,513,000 after purchasing an additional 76,939 shares during the period. Hedge funds and other institutional investors own 58.31% of the company’s stock.

About Delta Air Lines (NYSE:DAL)

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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