Delta Air Lines (NYSE:DAL) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group raised Delta Air Lines' target price from $70.00 to $74.00, indicating a potential upside of 24.71% from its current price.
• Multiple analysts have upgraded their ratings on Delta Air Lines, with the consensus rating being a "Buy" and an average target price of $70.31.
• Delta's stock has recently experienced insider sales, including CEO Edward H. Bastian selling 35,000 shares, representing a decrease in his ownership position.

Delta Air Lines (NYSE:DAL - Get Free Report) had its target price raised by analysts at Jefferies Financial Group from $70.00 to $74.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the transportation company's stock. Jefferies Financial Group's price target would suggest a potential upside of 24.71% from the stock's current price.

A number of other equities analysts have also recently issued reports on the stock. Wolfe Research upped their price target on shares of Delta Air Lines from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price target on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. TD Cowen upped their price objective on Delta Air Lines from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Barclays increased their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $70.31.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $59.34 on Monday. The company has a market capitalization of $38.75 billion, a PE ratio of 8.34, a P/E/G ratio of 1.48 and a beta of 1.50. Delta Air Lines has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a fifty day simple moving average of $58.65 and a two-hundred day simple moving average of $51.60. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced 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 net margin of 7.36% and a return on equity of 23.83%. The business had revenue of $8.40 billion for the quarter. Research analysts expect that Delta Air Lines will post 7.63 EPS for the current year.

Insider Transactions at Delta Air Lines

In other news, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer owned 632,823 shares of the company's stock, valued at $35,615,278.44. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter W. Carter sold 17,550 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total value of $1,003,684.50. Following the completion of the transaction, the executive vice president owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,050 shares of company stock worth $5,139,795 over the last three months. Company insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Thomasville National Bank acquired a new stake in shares of Delta Air Lines in the third quarter valued at approximately $485,000. Focused Wealth Management Inc purchased a new position in Delta Air Lines in the 3rd quarter valued at approximately $201,000. Advance Capital Management Inc. purchased a new stake in Delta Air Lines during the 3rd quarter worth about $227,000. KMG Fiduciary Partners LLC lifted its stake in Delta Air Lines by 1.4% in the third quarter. KMG Fiduciary Partners LLC now owns 84,474 shares of the transportation company's stock worth $4,794,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Secure Asset Management LLC purchased a new position in Delta Air Lines in the third quarter valued at $206,000. 69.93% of the stock is owned by institutional investors and hedge funds.

About Delta Air Lines

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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