Today, Vetr Inc. Downgraded Delta Air Lines Inc. (DAL) to Hold

Today, Vetr Inc. Downgraded Delta Air Lines Inc. (DAL) to Hold

Delta Air Lines Inc. (NYSE:DAL) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They presently have a $43.73 target price on the stock. Vetr‘s target price suggests a potential downside of 11.19% from the stock’s previous close.

A number of other research firms also recently issued reports on DAL. Zacks Investment Research raised shares of Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Friday, October 28th. Argus upped their price target on shares of Delta Air Lines to $48.00 and gave the company a “buy” rating in a research note on Monday, October 17th. Imperial Capital upped their price target on shares of Delta Air Lines from $41.00 to $44.00 and gave the company an “in-line” rating in a research note on Friday, October 14th. Sanford C. Bernstein initiated coverage on shares of Delta Air Lines in a research note on Tuesday, October 11th. They set a “market perform” rating and a $43.00 price target on the stock. Finally, Bank of America Corp. set a $60.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.78.

Shares of Delta Air Lines (NYSE:DAL) traded up 0.06% during midday trading on Monday, reaching $49.24. 2,241,430 shares of the company’s stock were exchanged. The stock has a market cap of $36.44 billion, a PE ratio of 7.98 and a beta of 0.89. The stock’s 50 day moving average is $43.39 and its 200-day moving average is $40.04. Delta Air Lines has a 12-month low of $32.60 and a 12-month high of $52.77.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 13th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.05. Delta Air Lines had a net margin of 11.92% and a return on equity of 37.39%. The business had revenue of $10.48 billion for the quarter. During the same period in the prior year, the firm earned $1.74 EPS. Delta Air Lines’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect that Delta Air Lines will post $5.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be issued a dividend of $0.2025 per share. This represents a $0.81 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, November 8th. Delta Air Lines’s payout ratio is 13.11%.

In other Delta Air Lines news, insider Steven M. Sear sold 4,671 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $40.16, for a total transaction of $187,587.36. Following the completion of the sale, the insider now directly owns 52,174 shares of the company’s stock, valued at $2,095,307.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven M. Sear sold 4,670 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $37.18, for a total transaction of $173,630.60. Following the sale, the executive vice president now directly owns 52,173 shares of the company’s stock, valued at $1,939,792.14. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in DAL. Crow Point Partners LLC purchased a new stake in Delta Air Lines during the third quarter valued at approximately $106,000. Archford Capital Strategies LLC raised its stake in Delta Air Lines by 3,152.4% in the second quarter. Archford Capital Strategies LLC now owns 2,732 shares of the company’s stock valued at $100,000 after buying an additional 2,648 shares during the last quarter. Physicians Financial Services Inc. purchased a new stake in Delta Air Lines during the third quarter valued at approximately $110,000. Financial Engines Advisors L.L.C. raised its stake in Delta Air Lines by 447.0% in the third quarter. Financial Engines Advisors L.L.C. now owns 3,085 shares of the company’s stock valued at $121,000 after buying an additional 2,521 shares during the last quarter. Finally, FTB Advisors Inc. raised its stake in Delta Air Lines by 7.4% in the third quarter. FTB Advisors Inc. now owns 3,106 shares of the company’s stock valued at $122,000 after buying an additional 214 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

Related posts

Leave a Comment