Delta Air Lines (DAL) is Reiterated by Cowen to Outperform, Lowers Price Target to $ 55

Delta Air Lines (DAL) was Reiterated by Cowen to “Outperform” while Lowering the Price Target of the company shares to $ 55 from a previous price target of $60 . Cowen advised their investors in a research report released on Jul 6, 2016.

On the company’s financial health, Delta Air Lines reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $1.29. The company had revenue of $9251.00 million for the quarter, compared to analysts expectations of $9265.45 million. The company’s revenue was down -1.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Delta Air Lines opened for trading at $36.41 and hit $37 on the upside on Friday, eventually ending the session at $36.77, with a gain of 0.93% or 0.34 points. The heightened volatility saw the trading volume jump to 94,08,381 shares. Company has a market cap of $28,371 M.

In a different news, on May 19, 2016, W Gilbert West (Sr. EVP & COO) sold 12,000 shares at $44.00 per share price. According to the SEC, on May 19, 2016, Edward H Bastian (Chief Executive Officer) sold 100,000 shares at $44.11 per share price. On May 18, 2016, Richard H Anderson (Exec. Chairman of the Board) sold 912,000 shares at $43.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Delta Air Lines Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s route network is centered on a system of hub and international gateway airports that it operates in Amsterdam Atlanta Detroit Los Angeles Minneapolis-St. Paul New York-LaGuardia New York-JFK Paris-Charles de Gaulle Salt Lake City Seattle and Tokyo-Narita. The Company’s segments include its Airline segment and Refinery segment. The Company’s Airline segment provides scheduled air transportation for passengers and cargo and other ancillary airline services including maintenance and repair services for third-parties. Its Refinery segment provides jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third-parties.

Delta Air Lines

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