The Traders Buy Delta Air Lines, Inc. (DAL) on Weakness

The Traders Buy Delta Air Lines, Inc. (DAL) on Weakness

Investors purchased shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Wednesday. $92.41 million flowed into the stock on the tick-up and $41.17 million flowed out of the stock on the tick-down, for a money net flow of $51.24 million into the stock. Of all equities tracked, Delta Air Lines had the 14th highest net in-flow for the day. Delta Air Lines traded down ($0.94) for the day and closed at $52.24

A number of equities research analysts have issued reports on DAL shares. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 target price for the company in a research report on Tuesday, July 25th. BidaskClub cut Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $62.00 target price (up previously from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. UBS AG reissued a “buy” rating and issued a $62.00 price objective (down from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Finally, Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.84.

The stock has a 50-day moving average of $50.24 and a 200-day moving average of $49.94. The company has a market capitalization of $37.40 billion, a PE ratio of 10.50 and a beta of 1.24.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the company posted $1.70 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

In other news, EVP Joanne D. Smith sold 33,863 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $53.61, for a total transaction of $1,815,395.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Sear sold 6,898 shares of the business’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.01, for a total value of $365,662.98. The disclosure for this sale can be found here. In the last three months, insiders have bought 45,000 shares of company stock valued at $275,760 and have sold 200,001 shares valued at $10,630,333. 0.37% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of DAL. BlackRock Inc. increased its holdings in Delta Air Lines by 2,951.4% in the 1st quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares in the last quarter. Winslow Capital Management LLC increased its holdings in Delta Air Lines by 5,815,030.8% in the 1st quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after purchasing an additional 4,535,724 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Delta Air Lines by 85.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after purchasing an additional 3,245,791 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in Delta Air Lines in the 2nd quarter worth about $158,224,000. Finally, TIAA CREF Investment Management LLC increased its holdings in Delta Air Lines by 77.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock worth $288,312,000 after purchasing an additional 2,343,531 shares in the last quarter. 87.56% of the stock is owned by institutional investors.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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