JPMorgan Chase & Co. Issues Positive Forecast for Delta Air Lines (NYSE:DAL) Stock Price

Delta Air Lines (NYSE:DAL) had its price target upped by investment analysts at JPMorgan Chase & Co. from $85.00 to $114.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 32.20% from the stock’s previous close.

DAL has been the topic of several other reports. HSBC cut their target price on 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. Susquehanna upped their price target on Delta Air Lines from $78.00 to $108.00 and gave the stock a “positive” rating in a research note on Tuesday, July 7th. Raymond James Financial downgraded Delta Air Lines from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $104.00 in a report on Monday, July 6th. Zacks Research raised shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Delta Air Lines from $80.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of “Moderate Buy” and an average target price of $99.15.

Delta Air Lines Price Performance

NYSE:DAL traded down $1.16 during trading hours on Monday, reaching $86.23. 2,759,378 shares of the company traded hands, compared to its average volume of 9,751,137. The stock has a market cap of $56.66 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.11 and a beta of 1.29. The firm’s 50-day moving average is $81.10 and its 200-day moving average is $72.54. Delta Air Lines has a 1-year low of $50.44 and a 1-year high of $95.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same quarter in the prior year, the company posted $2.10 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Allison C. Ausband sold 9,710 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the sale, the executive vice president owned 138,854 shares in the company, valued at $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president owned 95,025 shares of the company’s stock, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,331 shares of company stock worth $6,110,788 in the last 90 days. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. bought a new position in Delta Air Lines during the 4th quarter worth approximately $31,000. SWAN Capital LLC lifted its stake in Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock worth $32,000 after purchasing an additional 508 shares during the last quarter. Camelot Portfolios LLC bought a new position in Delta Air Lines during the fourth quarter worth $34,000. Cornerstone Planning Group LLC boosted its holdings in Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after purchasing an additional 429 shares during the period. Finally, Elevation Wealth Partners LLC increased its stake in Delta Air Lines by 195.9% during the second quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 237 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

About Delta Air Lines

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.