Delta Air Lines (NYSE:DAL) Given New $73.70 Price Target at HSBC

Key Points

• HSBC has raised its price target for Delta Air Lines from $69.20 to $73.70, indicating a potential upside of 28.04% from the current stock price.
• Multiple analysts have recently adjusted their ratings on Delta, with Evercore ISI increasing its target to $75.00 and Bernstein Bank to $66.00, maintaining an "outperform" rating.
• Delta Air Lines has experienced notable insider trading activity, with executives selling a total of 91,050 shares in the past three months.

Delta Air Lines (NYSE:DAL - Get Free Report) had its target price hoisted by analysts at HSBC from $69.20 to $73.70 in a report released on Friday,MarketScreener reports. The brokerage presently has a "buy" rating on the transportation company's stock. HSBC's price objective would indicate a potential upside of 28.04% from the company's current price.

DAL has been the topic of a number of other reports. Evercore ISI upped their target price on shares of Delta Air Lines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Bernstein Bank upped their target price on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Susquehanna upped their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a "positive" rating in a research note on Friday. TD Cowen upped their target price on shares of Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group set a $70.00 target price on shares of Delta Air Lines and gave the stock a "buy" rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $70.11.

Delta Air Lines Price Performance

Shares of DAL stock opened at $57.56 on Friday. Delta Air Lines has a 52-week low of $34.74 and a 52-week high of $69.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The firm has a market capitalization of $37.59 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.54 and a beta of 1.50. The stock has a 50 day moving average price of $58.65 and a 200 day moving average price of $51.53.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a return on equity of 24.85% and a net margin of 7.36%.The firm had revenue of $8.40 billion during the quarter. As a group, sell-side analysts predict that Delta Air Lines will post 7.63 earnings per share for the current year.

Insider Activity

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the transaction, the director owned 33,245 shares in the company, valued at $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,050 shares of company stock worth $5,139,795. 0.88% of the stock is currently owned by insiders.

Institutional Trading of Delta Air Lines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signature Resources Capital Management LLC acquired a new stake in shares of Delta Air Lines in the second quarter worth $25,000. NewSquare Capital LLC increased its stake in shares of Delta Air Lines by 184.6% in the second quarter. NewSquare Capital LLC now owns 572 shares of the transportation company's stock worth $28,000 after acquiring an additional 371 shares during the period. Activest Wealth Management increased its stake in shares of Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company's stock worth $30,000 after acquiring an additional 593 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth $31,000. Finally, Kilter Group LLC acquired a new stake in shares of Delta Air Lines in the second quarter worth $35,000. Institutional investors and hedge funds own 69.93% of the company's stock.

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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

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