Evercore Issues Positive Forecast for Delta Air Lines (NYSE:DAL) Stock Price

Key Points

• Evercore raised its price target on Delta Air Lines to $105 from $85 and kept an outperform rating, implying about 12.76% upside from the current price.
• Several other Wall Street firms also turned more bullish on DAL, including Morgan Stanley, Jefferies, Sanford C. Bernstein, and Bank of America, pushing the stock’s consensus rating to Moderate Buy with an average target of $84.30.
• Delta continues to show solid operating results, with its latest quarterly EPS of $0.64 beating estimates and revenue of $14.20 billion topping expectations, while the stock was reported up 2.7% on the day.

Delta Air Lines (NYSE:DAL - Get Free Report) had its price target boosted by Evercore from $85.00 to $105.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has an "outperform" rating on the transportation company's stock. Evercore's target price would suggest a potential upside of 12.76% from the company's current price.

A number of other brokerages have also commented on DAL. Morgan Stanley boosted their price target on Delta Air Lines from $90.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Jefferies Financial Group lifted their target price on Delta Air Lines from $81.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday. Sanford C. Bernstein boosted their target price on Delta Air Lines from $88.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Bank of America upped their price target on Delta Air Lines from $78.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Rothschild & Co Redburn decreased their price target on shares of Delta Air Lines from $72.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

Delta Air Lines Stock Up 2.7%

Delta Air Lines stock opened at $93.12 on Thursday. The company has a 50 day moving average of $75.90 and a 200-day moving average of $70.74. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54. Delta Air Lines has a twelve month low of $48.19 and a twelve month high of $90.98. The stock has a market capitalization of $61.18 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, equities research analysts anticipate that Delta Air Lines will post 5.34 EPS for the current fiscal year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 69,304 shares of the business's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the transaction, the executive vice president owned 69,369 shares of the company's stock, valued at $4,727,497.35. The trade was a 49.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 138,854 shares in the company, valued at approximately $10,552,904. This represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 149,635 shares of company stock valued at $10,833,855. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors have recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new position in shares of Delta Air Lines during the 4th quarter worth about $31,000. Camelot Portfolios LLC bought a new position in Delta Air Lines during the fourth quarter worth about $34,000. Accredited Wealth Management LLC grew its holdings in Delta Air Lines by 1,983.3% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company's stock worth $28,000 after purchasing an additional 476 shares during the period. Byrne Asset Management LLC acquired a new position in Delta Air Lines during the fourth quarter worth approximately $35,000. Finally, Beacon Financial Strategies CORP acquired a new position in Delta Air Lines during the fourth quarter worth approximately $36,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

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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