Citigroup Cuts Delta Air Lines (NYSE:DAL) Price Target to $72.00

Delta Air Lines (NYSE:DAL) had its target price dropped by Citigroup from $80.00 to $72.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s price target indicates a potential upside of 57.31% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. TD Cowen lifted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Barclays dropped their price target on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. UBS Group dropped their price target on shares of Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $76.29.

Delta Air Lines Stock Down 2.4 %

Shares of NYSE:DAL traded down $1.12 during midday trading on Tuesday, hitting $45.77. 1,869,610 shares of the company’s stock traded hands, compared to its average volume of 8,706,299. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The company has a market cap of $29.59 billion, a PE ratio of 8.59, a P/E/G ratio of 0.75 and a beta of 1.34. The firm’s fifty day moving average price is $62.08 and its two-hundred day moving average price is $58.12. Delta Air Lines has a twelve month low of $37.29 and a twelve month high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Delta Air Lines will post 7.63 EPS for the current fiscal year.

Insider Activity

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the transaction, the executive vice president now directly owns 52,789 shares of the company’s stock, valued at $3,425,478.21. The trade was a 41.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William C. Carroll sold 8,400 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 162,886 shares of company stock valued at $11,116,463. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAL. New Wave Wealth Advisors LLC acquired a new position in Delta Air Lines during the 4th quarter valued at about $27,000. Hemington Wealth Management lifted its stake in shares of Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after acquiring an additional 154 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of Delta Air Lines in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Delta Air Lines by 414.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after acquiring an additional 431 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Company Profile

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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.