Delta Air Lines, Inc. (NYSE:DAL – Get Rating) saw a significant drop in short interest in October. As of October 31, short interest totaled 17,470,000 shares, down 12.5% from the October 15 total of 19,960,000 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume of 10,490,000 shares, the short interest rate ratio is currently 1.7 days.
Value for money from Delta Air Lines
NYSE DAL traded around $0.06 on Thursday to hit $34.06. 5,505,517 shares of hands traded compared to its average volume of 13,415,915. The company’s 50-day simple moving average is $31.93 and its 200-day simple moving average is $33.40. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt to equity ratio of 4.62. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 309.64 and a beta of 1.22. Delta Air Lines has a 12-month low of $27.20 and a 12-month high of $46.27.
Delta Air Lines (NYSE:DAL – Get Rating) last released its quarterly earnings data on Thursday, October 13th. The transportation company reported earnings per share of $1.51 for the quarter, missing the consensus estimate of $1.53 ($0.02). The company had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $13.62 billion. Delta Air Lines had a return on equity of 32.62% and a net margin of 0.18%. The company’s revenue increased 52.7% compared to the prior-year quarter. In the same period last year, the company generated earnings per share of $0.30. As a group, research analysts are forecasting that Delta Air Lines will post 2.9 EPS for the current fiscal year.
Wall Street analysts are weighing
A number of analysts have commented on the company. Jefferies Financial Group raised its target price on Delta Air Lines to $40.00 from $35.00 and gave the stock a “buy” rating in a research report on Monday, October 24. Cowen upgraded Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday, October 14, and set a price target of $54.00 for the company. Berenberg Bank lowered its target price on Delta Air Lines to $48.50 from $54.00 in a research report on Wednesday, July 20. TheStreet upgraded Delta Air Lines from a “d+” rating to a “c-” rating in a research report on Tuesday 20 September. Finally, on Monday, August 15, Melius kicked off coverage of Delta Air Lines in a research report. They gave the company a buy rating. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.
Insiders place their bets
In other Delta Air Lines news, EVP Joanne D. Smith sold 2,000 shares of Delta Air Lines stock in a transaction that took place on Friday, October 28th. The stock sold at an average price of $34.19 for a total value of $68,380.00. Following the transaction, the Executive Vice President now directly owns 111,153 shares of the Company, valued at approximately $3,800,321.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.84% of the shares are currently owned by company insiders.
Hedge funds influence Delta Air Lines
Several institutional investors have been buying and selling shares of the stock recently. Vanguard Group Inc. added 1.3% to its position in Delta Air Lines in the third quarter. Vanguard Group Inc. now owns 70,356,139 shares of the transportation company’s stock valued at $1,974,193,000 after purchasing an additional 917,225 shares last quarter. Primecap Management Co. CA increased its stake in Delta Air Lines by 5.0% in the third quarter. Primecap Management Co. CA now owns 22,369,318 shares of the transportation company valued at $627,683,000 after purchasing an additional 1,067,362 shares last quarter. Neuberger Berman Group LLC increased its stake in Delta Air Lines by 27.0% in the first quarter. Neuberger Berman Group LLC now owns 11,402,177 shares of the transportation company’s stock valued at $451,155,000 after purchasing an additional 2,423,615 shares last quarter. US Global Investors Inc. added 6.6% to its position in Delta Air Lines in the first quarter. US Global Investors Inc. now owns 8,991,349 shares of the transportation company’s stock valued at $355,788,000 after purchasing an additional 552,758 shares last quarter. Finally, Renaissance Technologies LLC increased its position in Delta Air Lines by 177.5% in the third quarter. Renaissance Technologies LLC now owns 8,815,900 shares of the transportation company’s stock valued at $247,374,000 after purchasing an additional 5,638,800 shares last quarter. 67.90% of the shares are currently held by institutional investors.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and internationally. The company operates in two segments, airline and refinery. The domestic network was centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, and coastal centers in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network focused on hubs and market presence in Amsterdam, Mexico City, London-Heathrow, Paris-Charles de Gaulle and Seoul-Incheon.
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