Bank of America Boosts Delta Air Lines (NYSE:DAL) Price Target to $100.00

Delta Air Lines (NYSE:DAL) had its price target lifted by stock analysts at Bank of America from $93.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 6.32% from the stock’s current price.

A number of other research firms have also weighed in on DAL. Sanford C. Bernstein boosted their price objective on Delta Air Lines from $88.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Wells Fargo & Company lifted their price target on Delta Air Lines from $75.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday. Rothschild & Co Redburn dropped their price objective on shares of Delta Air Lines from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Raymond James Financial boosted their target price on shares of Delta Air Lines from $76.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 9th. Finally, HSBC dropped their price target on shares of Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.80.

Delta Air Lines Stock Performance

NYSE DAL traded up $0.40 on Wednesday, hitting $94.06. 799,428 shares of the company’s stock traded hands, compared to its average volume of 9,832,909. The firm’s 50-day moving average price is $77.62 and its two-hundred day moving average price is $71.44. The firm has a market capitalization of $61.79 billion, a PE ratio of 13.70, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Delta Air Lines has a 1-year low of $48.24 and a 1-year high of $95.14.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. As a group, analysts expect that Delta Air Lines will post 5.36 EPS for the current year.

Insider Activity

In related news, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction on Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the sale, the executive vice president owned 69,369 shares of the company’s stock, valued at approximately $4,727,497.35. This trade represents a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,635 shares of company stock worth $10,833,855 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Delta Air Lines by 137.4% in the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock valued at $958,538,000 after acquiring an additional 7,994,004 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Delta Air Lines during the 4th quarter worth $471,532,000. Bank of New York Mellon Corp boosted its stake in Delta Air Lines by 29.2% during the 1st quarter. Bank of New York Mellon Corp now owns 12,270,241 shares of the transportation company’s stock worth $815,726,000 after purchasing an additional 2,773,945 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Delta Air Lines by 1,579.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company’s stock worth $185,534,000 after buying an additional 2,514,193 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Delta Air Lines by 44.3% in the fourth quarter. AQR Capital Management LLC now owns 6,155,776 shares of the transportation company’s stock valued at $426,441,000 after buying an additional 1,890,521 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.