Delta Air Lines (NYSE:DAL) Hits New 12-Month High – Still a Buy?

Delta Air Lines, Inc. (NYSE:DAL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $61.36 and last traded at $61.36, with a volume of 415153 shares. The stock had previously closed at $58.29.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DAL shares. Susquehanna lifted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Barclays raised their price target on Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $65.40.

Delta Air Lines Price Performance

The stock’s 50-day moving average price is $50.12 and its 200 day moving average price is $48.04. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.03 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post 6.12 earnings per share for the current year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the transaction, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,710 shares of company stock valued at $6,739,745 in the last three months. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delta Air Lines

Several institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines during the third quarter worth about $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines in the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines in the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC acquired a new position in shares of Delta Air Lines in the second quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC acquired a new position in Delta Air Lines in the 2nd quarter valued at $40,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

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.