Investors Buy Shares of Delta Air Lines (DAL) on Weakness

Traders bought shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading on Tuesday. $83.30 million flowed into the stock on the tick-up and $52.93 million flowed out of the stock on the tick-down, for a money net flow of $30.37 million into the stock. Of all equities tracked, Delta Air Lines had the 18th highest net in-flow for the day. Delta Air Lines traded down ($0.23) for the day and closed at $55.47

A number of research analysts recently weighed in on DAL shares. Bank of America decreased their price target on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. Imperial Capital reaffirmed an “outperform” rating and issued a $78.00 price target (up from $71.00) on shares of Delta Air Lines in a research note on Thursday, September 27th. ValuEngine raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Deutsche Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and raised their price target for the company from $53.00 to $60.00 in a research note on Wednesday, October 17th. Finally, Buckingham Research decreased their price target on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.99.

The firm has a market cap of $38.48 billion, a P/E ratio of 11.25, a PEG ratio of 0.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.37.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 11th. The transportation company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.06. The company had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. During the same quarter in the prior year, the firm earned $1.57 EPS. On average, research analysts expect that Delta Air Lines, Inc. will post 5.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.52%. Delta Air Lines’s payout ratio is 28.40%.

In other news, CEO Edward H. Bastian sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $55.00, for a total transaction of $1,925,000.00. Following the completion of the sale, the chief executive officer now owns 266,943 shares in the company, valued at approximately $14,681,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Easter III sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,353 shares of company stock valued at $2,350,708. 0.33% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its holdings in shares of Delta Air Lines by 73.8% during the 2nd quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock worth $134,000 after buying an additional 1,147 shares during the last quarter. Capital Advisors Ltd. LLC acquired a new stake in shares of Delta Air Lines during the 3rd quarter worth approximately $139,000. Point72 Hong Kong Ltd acquired a new stake in shares of Delta Air Lines during the 2nd quarter worth approximately $142,000. Truvestments Capital LLC acquired a new stake in shares of Delta Air Lines during the 3rd quarter worth approximately $143,000. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Delta Air Lines during the 2nd quarter worth approximately $163,000. Institutional investors and hedge funds own 88.09% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/11/06/investors-buy-shares-of-delta-air-lines-dal-on-weakness.html.

About Delta Air Lines (NYSE:DAL)

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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Further Reading: Trading Penny Stocks

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply