Argus Raises Delta Air Lines (NYSE:DAL) Price Target to $100.00

Key Points

• Argus raised its price target on Delta Air Lines to $100 from $85 while keeping a buy rating. The new target implies about 17.3% upside from the previous close.
• Other analysts have also been positive overall, with recent target increases from TD Cowen, Jefferies, and UBS, though Wolfe Research cut its target and Weiss Ratings downgraded the stock. MarketBeat says Delta currently has a Moderate Buy consensus and an average target of $81.68.
• Delta’s latest quarterly results topped expectations, with EPS of $0.64 versus $0.61 expected and revenue of $14.20 billion versus $14.05 billion expected. Revenue rose 9.4% year over year, and analysts expect full-year EPS of 5.52.

Delta Air Lines (NYSE:DAL - Get Free Report) had its price target lifted by equities research analysts at Argus from $85.00 to $100.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the transportation company's stock. Argus' price target would suggest a potential upside of 17.32% from the company's previous close.

Other research analysts have also recently issued research reports about the company. TD Cowen upped their price target on Delta Air Lines from $84.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Wolfe Research reduced their price objective on Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group increased their target price on Delta Air Lines from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Weiss Ratings downgraded shares of Delta Air Lines from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. Finally, UBS Group upped their target price on shares of Delta Air Lines from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.68.

Delta Air Lines Stock Performance

NYSE:DAL opened at $85.24 on Monday. The stock has a fifty day moving average price of $74.69 and a 200-day moving average price of $70.29. The company has a market cap of $56.00 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. Delta Air Lines has a fifty-two week low of $45.28 and a fifty-two week high of $87.39.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, equities analysts anticipate that Delta Air Lines will post 5.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company's stock, valued at approximately $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allison C. Ausband sold 9,710 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the sale, the executive vice president owned 138,854 shares of the company's stock, valued at $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 149,635 shares of company stock valued at $10,833,855. 0.80% of the stock is owned by insiders.

Institutional Trading of Delta Air Lines

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in Delta Air Lines by 50.9% during the 1st quarter. Pacer Advisors Inc. now owns 4,033,595 shares of the transportation company's stock valued at $268,153,000 after purchasing an additional 1,360,195 shares during the last quarter. Parallel Advisors LLC increased its stake in Delta Air Lines by 10.1% in the 1st quarter. Parallel Advisors LLC now owns 13,180 shares of the transportation company's stock worth $876,000 after buying an additional 1,206 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Delta Air Lines by 102.3% in the first quarter. NewEdge Advisors LLC now owns 105,966 shares of the transportation company's stock valued at $7,045,000 after purchasing an additional 53,581 shares during the period. Cozad Asset Management Inc. grew its stake in Delta Air Lines by 0.6% in the first quarter. Cozad Asset Management Inc. now owns 165,103 shares of the transportation company's stock worth $10,976,000 after purchasing an additional 965 shares in the last quarter. Finally, Compass Capital Management Inc. raised its position in Delta Air Lines by 1.5% during the 1st quarter. Compass Capital Management Inc. now owns 128,663 shares of the transportation company's stock valued at $8,554,000 after purchasing an additional 1,844 shares in the last quarter. Hedge funds and other 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.

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