Delta Air Lines (NYSE:DAL) Given New $64.00 Price Target at Citigroup

Delta Air Lines (NYSE:DAL) had its price target cut by Citigroup from $67.00 to $64.00 in a research note released on Monday, Marketbeat.com reports. They currently have a buy rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com assumed coverage on shares of Delta Air Lines in a report on Thursday, August 17th. They set a buy rating on the stock. Jefferies Financial Group upped their price target on Delta Air Lines from $50.00 to $60.00 in a research report on Tuesday, July 11th. Bank of America upped their price target on Delta Air Lines from $50.00 to $53.00 in a research report on Monday, July 17th. Barclays upped their price target on Delta Air Lines from $55.00 to $58.00 in a research report on Thursday, July 13th. Finally, Susquehanna upped their price target on Delta Air Lines from $45.00 to $54.00 in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $57.31.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $38.89 on Monday. The company’s 50-day moving average is $44.17 and its 200 day moving average is $39.57. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.41 and a current ratio of 0.46. The company has a market capitalization of $25.02 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.21 and a beta of 1.30. Delta Air Lines has a fifty-two week low of $27.20 and a fifty-two week high of $49.81.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 13th. The transportation company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.40 by $0.28. The business had revenue of $15.58 billion for the quarter, compared to the consensus estimate of $14.44 billion. Delta Air Lines had a net margin of 5.36% and a return on equity of 59.56%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities research analysts forecast that Delta Air Lines will post 6.56 earnings per share for the current year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, Director Michael P. Huerta sold 3,350 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $48.43, for a total transaction of $162,240.50. Following the transaction, the director now directly owns 27,465 shares in the company, valued at $1,330,129.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael P. Huerta sold 3,350 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $48.43, for a total value of $162,240.50. Following the completion of the sale, the director now owns 27,465 shares of the company’s stock, valued at $1,330,129.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven M. Sear sold 12,129 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $45.52, for a total value of $552,112.08. Following the completion of the sale, the executive vice president now directly owns 85,708 shares of the company’s stock, valued at approximately $3,901,428.16. The disclosure for this sale can be found here. Insiders have sold 40,479 shares of company stock worth $1,839,353 over the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prosperity Wealth Management Inc. purchased a new position in Delta Air Lines during the second quarter valued at $257,000. Strategic Financial Concepts LLC purchased a new position in Delta Air Lines during the second quarter valued at $212,000. Portside Wealth Group LLC purchased a new position in Delta Air Lines during the second quarter valued at $1,010,000. CTC Alternative Strategies Ltd. purchased a new position in Delta Air Lines during the second quarter valued at $323,000. Finally, Comerica Bank purchased a new position in Delta Air Lines during the second quarter valued at $36,210,000. Hedge funds and other institutional investors own 71.29% of the company’s stock.

About Delta Air Lines

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.