Delta Air Lines (NYSE:DAL) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Delta shares rose above their 200-day moving average of $77.79, trading as high as $82.77 and last changing hands at $82.64.
• Analysts remain broadly bullish, with 23 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $100.36.
• Delta exceeded quarterly earnings and revenue expectations, reporting $1.56 EPS and $17.67 billion in revenue, though insiders sold 356,726 shares worth approximately $33.1 million over the past quarter.

Delta Air Lines, Inc. (NYSE:DAL - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $77.79 and traded as high as $82.77. Delta Air Lines shares last traded at $82.64, with a volume of 9,139,525 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DAL shares. Raymond James Financial cut their target price on Delta Air Lines from $104.00 to $98.00 and set an "outperform" rating on the stock in a research note on Monday, August 24th. Morgan Stanley raised their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Delta Air Lines from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Citigroup boosted their price objective on shares of Delta Air Lines from $106.00 to $110.00 and gave the stock a "buy" rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group increased their target price on shares of Delta Air Lines from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Twenty-three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.36.

Delta Air Lines Stock Performance

The stock has a market capitalization of $54.35 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.10 and a beta of 1.29. The stock has a 50 day simple moving average of $84.16 and a two-hundred day simple moving average of $77.79. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company had revenue of $17.67 billion for the quarter, compared to analysts' expectations of $17.43 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The business's revenue was up 18.7% compared to the same quarter last year. On average, equities analysts forecast that Delta Air Lines, Inc. will post 6.23 EPS for the current fiscal year.

Insider Transactions at Delta Air Lines

In other news, President Peter W. Carter sold 39,900 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.98, for a total value of $3,709,902.00. Following the sale, the president directly owned 424,704 shares of the company's stock, valued at approximately $39,488,977.92. This represents a 8.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael P. Huerta sold 3,100 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $94.11, for a total transaction of $291,741.00. Following the completion of the sale, the director owned 32,525 shares of the company's stock, valued at $3,060,927.75. This trade represents a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 356,726 shares of company stock valued at $33,081,037. 0.80% of the stock is owned by company insiders.

Institutional Trading of Delta Air Lines

Several institutional investors and hedge funds have recently bought and sold shares of DAL. Markowski Investments acquired a new position in shares of Delta Air Lines during the 2nd quarter worth approximately $27,000. Timbuktu Capital Management LLC bought a new stake in Delta Air Lines in the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC lifted its holdings in Delta Air Lines by 195.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company's stock valued at $34,000 after purchasing an additional 237 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Delta Air Lines during the 4th quarter valued at $31,000. Finally, Atlas Wealth LLC bought a new position in Delta Air Lines during the first quarter worth $35,000. Institutional investors own 69.93% of the company's stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.

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