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

Key Points

• TD Cowen has raised its price target for Delta Air Lines from $66.00 to $72.00, suggesting a potential upside of 23.71% from the previous close, while maintaining a "buy" rating on the stock.
• Analysts from various firms have shown consistent positive sentiment, with price targets now ranging from $67.00 to $90.00, reflecting strong confidence in Delta's stock performance.
• The company reported a net margin of 7.36% and is projected to post an EPS of 7.63 for the current year, signaling healthy financial performance amidst a competitive market.

Delta Air Lines (NYSE:DAL - Get Free Report) had its target price boosted by research analysts at TD Cowen from $66.00 to $72.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a "buy" rating on the transportation company's stock. TD Cowen's price target would indicate a potential upside of 23.71% from the company's previous close.

Several other research analysts have also weighed in on DAL. Weiss Ratings reiterated a "buy (b-)" rating on shares of Delta Air Lines in a research note on Wednesday, October 8th. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of Delta Air Lines from $72.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Finally, Wolfe Research increased 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. One analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the stock. According to MarketBeat.com, Delta Air Lines currently has an average rating of "Buy" and a consensus price target of $70.68.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $58.20 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $58.77 and a 200 day simple moving average of $51.70. The company has a market cap of $38.00 billion, a PE ratio of 8.18, a P/E/G ratio of 1.48 and a beta of 1.50. Delta Air Lines has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 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 during the quarter. On average, sell-side analysts anticipate that Delta Air Lines will post 7.63 EPS for the current year.

Insider Buying and Selling at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares of the company's stock, valued at $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Delta Air Lines

A number of hedge funds and other institutional investors have recently made changes to their positions in DAL. Vanguard Group Inc. increased its position in shares of Delta Air Lines by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company's stock worth $3,667,479,000 after purchasing an additional 1,648,071 shares in the last quarter. State Street Corp increased its position in shares of Delta Air Lines by 2.6% during the 2nd quarter. State Street Corp now owns 23,059,848 shares of the transportation company's stock worth $1,134,083,000 after purchasing an additional 581,421 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Delta Air Lines by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company's stock worth $822,127,000 after purchasing an additional 527,570 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Delta Air Lines during the 2nd quarter worth about $386,364,000. Finally, Invesco Ltd. increased its position in shares of Delta Air Lines by 30.2% during the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock worth $315,788,000 after purchasing an additional 1,681,464 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

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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