The Vanguard Group, Inc. recently announced the acquisition of new stake in Delta Air Lines Inc. (NYSE:DAL). The institutional investor has increased its shareholding in the Industrials company by 23.83% to 53.7 million shares with purchase of 10.33 million shares. This fresh investment now brings its stake to 8.42% valued currently at $1.34 billion. In addition, BlackRock Fund Advisors raised its holdings by 2.56 million to 26.95 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.42% or 0.27 million shares – to 19.6 million shares.
With over 18.2 million Delta Air Lines Inc. (DAL) shares trading Monday and a closing price of $30.85 on the day, the dollar volume was approximately $561.34 million. The shares have shown a positive weekly performance of 3.52% and its price on 08/31/20 lost nearly -3.56%. Currently, there are 635.00M common shares owned by the public and among those 632.73M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for DAL have a consensus price objective of $36.06. The analysts have set the share’s price value over the next 12 months at a high of $47.00 and a low of $21.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Delta Air Lines Inc. stock is 2.20 for the next 12 months. The average price target is 13.03% above its last price level and an upside to the estimated low will see the stock lose -46.9% over that period. But an upside of 34.36% will see the stock hit the forecast high price target while mean target price for the stock is $35.50.
Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 44 of these insider trades were purchases, accounting for 1,647,740 shares. Insider sales of the common stock occurred on 55 occasions, with total insider shares sold totaling 13,318,000 shares.
The top 3 mutual fund holders in Delta Air Lines Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market Index owns 18.19 million shares of the company’s stock, all valued at over $454.09 million. The company sold 8636.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard 500 Index Fund sold 67563.0 shares to see its total holdings shrink to 11.71 million shares valued at over $292.43 million and representing 1.84% of the shares outstanding. American Funds Growth Fund of Ame bought 6.8 million shares to bring its total holdings to over 10.65 million shares at a value of $265.89 million. American Funds Growth Fund of Ame now owns shares totaling to 1.67% of the shares outstanding.
Shares of Delta Air Lines Inc. (NYSE: DAL) opened at $31.81, down -$0.18 from a prior closing price of $31.99. However, the script later closed the day at $30.85, down -3.56%. The company’s stock has a 5-day price change of 3.52% and 16.81% over the past three months. DAL shares are trading -47.25% year to date (YTD), with the 12-month market performance down to -46.68% lower. It has a 12-month low price of $17.51 and touched a high of $62.48 over the same period. Currently, 18.2 million shares have been traded, compared to an average intraday trading volume of 36.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.59%, 11.72%, and -20.05% respectively.
Institutional ownership of Delta Air Lines Inc. (NYSE: DAL) shares accounts for 62.00% of the company’s 635.00M shares outstanding. Mutual fund holders own 27.87%, while other institutional holders and individual stakeholders account for 31.91% and 12.12% respectively.
It has a market capitalization of $18.96B and a beta (3y monthly) value of 1.31. The earnings-per-share (ttm) stands at -$5.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.70% over the week and 4.40% over the month.
Analysts forecast that Delta Air Lines Inc. (DAL) will achieve an EPS of -$3.05 for the current quarter, -$1.62 for the next quarter and $1.92 for 2021. The lowest estimate earnings-per-share for the quarter is -$4.39 while analysts give the company a high EPS estimate of -$2.27. Comparatively, EPS for the current quarter was $2.32 a year ago. Earnings per share for the fiscal year are expected to increase by 28.70%, and 120.70% over the next financial year. EPS should shrink at an annualized rate of -14.08% over the next five years, compared to 56.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Delta Air Lines Inc. (DAL) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 7 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DAL, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on May 04, 2020, with the firm’s price target at. Cowen coverage for the Delta Air Lines Inc. (DAL) stock in a research note released on April 16, 2020 offered a Outperform rating with a price target of $35. Deutsche Bank was of a view on March 25, 2020 that the stock is Buy, while Argus gave the stock Hold rating on March 11, 2020, issuing a price target of. Deutsche Bank on their part issued Hold rating on February 27, 2020.