Delta Air Lines, Inc. (NYSE:DAL – Get Rating) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 18,330,000 shares, a drop of 17.9% from the July 15th total of 22,330,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 13,930,000 shares, the short-interest ratio is presently 1.3 days.
Delta Air Lines Trading Up 1.6 %
NYSE DAL traded up $0.54 on Friday, reaching $34.50. The company had a trading volume of 7,141,979 shares, compared to its average volume of 10,869,608. The stock’s 50 day moving average is $31.85 and its 200-day moving average is $36.88. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 37.50 and a beta of 1.20. The company has a quick ratio of 0.59, a current ratio of 0.66 and a debt-to-equity ratio of 6.01. Delta Air Lines has a 52 week low of $28.09 and a 52 week high of $46.27.
Delta Air Lines (NYSE:DAL – Get Rating) last released its quarterly earnings data on Wednesday, July 13th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.27). The company had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.40 billion. Delta Air Lines had a net margin of 1.43% and a return on equity of 14.26%. The company’s revenue for the quarter was up 93.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.07) EPS. Equities analysts predict that Delta Air Lines will post 2.8 earnings per share for the current year.
Insider Activity
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In related news, CEO Edward H. Bastian sold 27,664 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $39.55, for a total transaction of $1,094,111.20. Following the completion of the transaction, the chief executive officer now owns 446,712 shares of the company’s stock, valued at $17,667,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Delta Air Lines news, CEO Edward H. Bastian sold 27,664 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $39.55, for a total transaction of $1,094,111.20. Following the completion of the sale, the chief executive officer now directly owns 446,712 shares in the company, valued at approximately $17,667,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Taylor purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of $29.31 per share, with a total value of $293,100.00. Following the completion of the purchase, the director now directly owns 43,010 shares in the company, valued at $1,260,623.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,148 shares of company stock valued at $1,945,960. Company insiders own 0.84% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new position in Delta Air Lines in the fourth quarter valued at about $25,000. Landmark Wealth Management LLC acquired a new position in shares of Delta Air Lines during the first quarter worth about $25,000. Evolution Advisers Inc. acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $29,000. Tyler Stone Wealth Management acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $29,000. Finally, Riverview Trust Co acquired a new position in shares of Delta Air Lines during the first quarter worth about $29,000. 63.24% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently weighed in on DAL. JPMorgan Chase & Co. lifted their price objective on Delta Air Lines from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. The Goldman Sachs Group lifted their price objective on Delta Air Lines from $44.00 to $45.00 in a report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Delta Air Lines from $55.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. UBS Group raised Delta Air Lines from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $53.00 in a report on Monday, April 18th. Finally, Berenberg Bank decreased their price objective on Delta Air Lines from $54.00 to $48.50 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines has a consensus rating of “Moderate Buy” and an average price target of $49.50.
Delta Air Lines Company Profile
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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.
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