Delta Air Lines (NYSE:DAL) Hits New 1-Year High – What’s Next?

Delta Air Lines, Inc. (NYSE:DAL)’s stock price hit a new 52-week high on Thursday . The company traded as high as $66.93 and last traded at $66.08, with a volume of 1914289 shares trading hands. The stock had previously closed at $64.26.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup boosted their target price on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Susquehanna upped their target price 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. The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $75.83.

Delta Air Lines Trading Up 3.5 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The stock has a market cap of $42.94 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.19 and a beta of 1.35. The business has a 50-day simple moving average of $57.68 and a two-hundred day simple moving average of $49.74.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 EPS. Equities analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently disclosed 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 dividend yield of 0.90%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

Insider Activity

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares in the company, valued at $1,197,608.72. This represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delta Air Lines

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

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.