Delta Air Lines Inc. (DAL) Downgraded by Vetr Inc. to Sell

Vetr cut shares of Delta Air Lines Inc. (NYSE:DAL) from a hold rating to a sell rating in a report released on Monday morning. They currently have $47.62 price objective on the stock.

A number of other analysts have also weighed in on the stock. Imperial Capital upped their target price on shares of Delta Air Lines from $44.00 to $52.00 and gave the stock a line rating in a research note on Tuesday, November 22nd. Citigroup Inc. began coverage on shares of Delta Air Lines in a research note on Friday, November 18th. They set a buy rating and a $61.00 target price on the stock. Deutsche Bank AG restated a buy rating on shares of Delta Air Lines in a research note on Tuesday, November 8th. Credit Suisse Group AG restated a buy rating on shares of Delta Air Lines in a research note on Tuesday, November 8th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of Delta Air Lines in a research note on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $53.78.

Analyst Recommendations for Delta Air Lines (NYSE:DAL)

Shares of Delta Air Lines (NYSE:DAL) opened at 48.49 on Monday. The firm’s 50-day moving average is $43.66 and its 200 day moving average is $40.06. The firm has a market capitalization of $35.88 billion, a PE ratio of 7.86 and a beta of 0.89. Delta Air Lines has a 52 week low of $32.60 and a 52 week 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.05. The business had revenue of $10.48 billion for the quarter. Delta Air Lines had a net margin of 11.92% and a return on equity of 37.39%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 EPS. On average, equities analysts forecast that Delta Air Lines will post $5.70 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors 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 dividend yield of 1.67%. The ex-dividend date is Tuesday, November 8th. Delta Air Lines’s dividend payout ratio is presently 13.11%.

In related news, VP Craig M. Meynard sold 3,500 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $41.41, for a total transaction of $144,935.00. Following the completion of the sale, the vice president now directly owns 11,077 shares of the company’s stock, valued at $458,698.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joanne D. Smith sold 1,853 shares of the stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $40.50, for a total value of $75,046.50. Following the sale, the executive vice president now directly owns 72,156 shares of the company’s stock, valued at $2,922,318. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Several large investors have recently modified their holdings of DAL. Price T Rowe Associates Inc. MD increased its stake in Delta Air Lines by 46.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,045,364 shares of the company’s stock worth $552,826,000 after buying an additional 4,427,357 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Delta Air Lines during the second quarter worth approximately $91,336,000. RidgeWorth Capital Management LLC increased its stake in Delta Air Lines by 181.6% in the second quarter. RidgeWorth Capital Management LLC now owns 3,189,431 shares of the company’s stock worth $117,275,000 after buying an additional 2,056,771 shares during the period. BlackRock Advisors LLC increased its stake in Delta Air Lines by 61.7% in the third quarter. BlackRock Advisors LLC now owns 4,313,257 shares of the company’s stock worth $169,770,000 after buying an additional 1,645,283 shares during the period. Finally, Janus Capital Management LLC increased its stake in Delta Air Lines by 86.5% in the second quarter. Janus Capital Management LLC now owns 2,958,659 shares of the company’s stock worth $107,784,000 after buying an additional 1,372,630 shares during the period. 81.06% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:DAL

To view Vetr’s full report, visit Vetr’s official website.

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