BlackRock Fund Advisors 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 0.38% to 29.5 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 4.58% valued currently at $921.83 million. In addition, Geode Capital Management LLC raised its holdings by 0.31 million to 13.81 million shares. And Renaissance Technologies LLC has lifted its position by 141.41% or 4.8 million shares – to 8.19 million shares.
With over 7.78 million Delta Air Lines, Inc. (DAL) shares trading Monday and a closing price of $36.50 on the day, the dollar volume was approximately $283.97 million. The shares have shown a positive half year performance of 2.93% and its price on 11/20/23 gained nearly 1.22%. Currently, there are 641.27M common shares owned by the public and among those 641.03M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for DAL have a consensus price objective of $52.30. The analysts have set the share’s price value over the next 12 months at a high of $77.00 and a low of $43.00. The average price target is 30.21% above its recent price level and an upside to the estimated low will see the stock gain 15.12% over that period. But an upside of 52.6% will see the stock hit the forecast high price target while median target price for the stock is $50.00.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 511,527 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 310,524 shares.
The top 3 mutual fund holders in Delta Air Lines, Inc. are Vanguard Total Stock Market ETF, American Funds Growth Fund of Ame, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 20.11 million shares of the company’s stock, all valued at over $628.54 million. The company bought an additional 0.1 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. American Funds Growth Fund of Ame sold 52515.0 shares to see its total holdings shrink to 15.67 million shares valued at over $489.83 million and representing 2.44% of the shares outstanding. Vanguard 500 Index Fund bought 68329.0 shares to bring its total holdings to over 15.53 million shares at a value of $485.35 million. Vanguard 500 Index Fund now owns shares totaling to 2.41% of the shares outstanding.
Shares of Delta Air Lines, Inc. (NYSE: DAL) opened at $35.95, down -$0.11 from a prior closing price of $36.06. However, the script later moved the day high at 36.60, up 1.22%. The company’s stock has a 5-day price change of 6.82% and -12.28% over the past three months. DAL shares are trading 11.08% year to date (YTD), with the 12-month market performance up to 7.16% higher. It has a 12-month low price of $30.60 and touched a high of $49.81 over the same period. DAL has an average intraday trading volume of 9.32 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 10.36%, 3.42%, and -4.86% respectively.
Institutional ownership of Delta Air Lines, Inc. (NYSE: DAL) shares accounts for 70.71% of the company’s 641.27M shares outstanding. Mutual fund holders own 32.32%, while other institutional holders and individual stakeholders account for 38.63% and 12.15% respectively.
It has a market capitalization of $23.49B and a beta (3y monthly) value of 1.39. The stock’s trailing 12-month PE ratio is 6.90, while the earnings-per-share (ttm) stands at $5.29. The company has a PEG of 0.21 and a Quick Ratio of 0.39 with the debt-to-equity ratio at 2.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.23% over the week and 2.50% over the month.
Analysts forecast that Delta Air Lines, Inc. (DAL) will achieve an EPS of $1.14 for the current quarter, $0.36 for the next quarter and $6.61 for 2024. The lowest estimate earnings-per-share for the quarter is $1.05 while analysts give the company a high EPS estimate of $1.25. Comparatively, EPS for the current quarter was $1.48 a year ago. Earnings per share for the fiscal year are expected to increase by 91.09%, and 7.12% over the next financial year. EPS should grow at an annualized rate of 32.60% over the next five years, compared to -14.23% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Delta Air Lines, Inc. (DAL) as a “Strong Buy” at a consensus score of 1.22. Specifically, 19 Wall Street analysts polled rate the stock as a buy, while 1 of the 23 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. Evercore ISI stated their Outperform rating for the stock in a research note on March 07, 2023, with the firm’s price target at $40-$47.
