Delta Air Lines (NYSE:DAL) Sees Unusually-High Trading Volume

Delta Air Lines, Inc. (NYSE:DALGet Rating) shares saw strong trading volume on Thursday . 662,106 shares changed hands during trading, a decline of 96% from the previous session’s volume of 15,652,249 shares.The stock last traded at $45.45 and had previously closed at $43.54.

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of Delta Air Lines from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $53.00 in a research report on Monday, April 18th. Bank of America boosted their price target on shares of Delta Air Lines from $47.00 to $50.00 in a research report on Thursday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group lifted their target price on shares of Delta Air Lines from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, April 14th. Finally, Citigroup reduced their target price on shares of Delta Air Lines from $56.00 to $54.00 in a research note on Tuesday, January 18th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $52.41.

The business’s 50 day moving average price is $38.67 and its 200-day moving average price is $39.51. The firm has a market capitalization of $28.01 billion, a PE ratio of 55.30 and a beta of 1.20. The company has a debt-to-equity ratio of 8.17, a quick ratio of 0.60 and a current ratio of 0.65.

Delta Air Lines (NYSE:DALGet Rating) last announced its earnings results on Wednesday, April 13th. The transportation company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.04. Delta Air Lines had a net margin of 1.47% and a negative return on equity of 41.80%. The firm had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the prior year, the firm earned ($3.55) EPS. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. As a group, analysts anticipate that Delta Air Lines, Inc. will post 1.38 earnings per share for the current year.

In other Delta Air Lines news, SVP William C. Carroll sold 3,580 shares of the business’s stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $40.08, for a total transaction of $143,486.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 6,098 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $41.99, for a total transaction of $256,055.02. Following the transaction, the executive vice president now owns 129,881 shares of the company’s stock, valued at approximately $5,453,703.19. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of DAL. Renaissance Technologies LLC acquired a new position in shares of Delta Air Lines in the 3rd quarter valued at $81,538,000. Norges Bank acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $66,699,000. MFA Wealth Advisors LLC acquired a new position in shares of Delta Air Lines in the 3rd quarter valued at $1,627,000. Neuberger Berman Group LLC boosted its holdings in shares of Delta Air Lines by 34.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 5,339,150 shares of the transportation company’s stock valued at $226,792,000 after buying an additional 1,358,120 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Delta Air Lines by 97.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,631,380 shares of the transportation company’s stock valued at $102,834,000 after buying an additional 1,296,842 shares in the last quarter. Institutional investors own 62.86% of the company’s stock.

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 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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