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

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

A number of other research firms also recently commented on DAL. 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 report on Thursday, November 21st. UBS Group cut 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 report on Tuesday, March 11th. Barclays cut 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 report on Tuesday, March 11th. Susquehanna boosted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. Finally, TD Cowen boosted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $76.29.

Delta Air Lines Price Performance

Shares of NYSE DAL traded down $1.12 during midday trading on Tuesday, reaching $45.77. The company’s stock had a trading volume of 1,869,610 shares, compared to its average volume of 8,706,299. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $62.08 and a 200 day moving average price of $58.12. Delta Air Lines has a one year low of $37.29 and a one year high of $69.98. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last released its earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $14.20 billion. During the same period in the previous year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Delta Air Lines will post 7.63 EPS for the current year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $66.02, for a total value of $554,568.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Delta Air Lines

Large investors have recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter worth approximately $27,000. Hemington Wealth Management boosted its holdings in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after buying an additional 154 shares during the period. Roxbury Financial LLC bought a new stake in shares of Delta Air Lines during the 4th quarter worth $29,000. Crews Bank & Trust bought a new stake in shares of Delta Air Lines during the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after buying an additional 431 shares during the period. 69.93% of the stock is owned by institutional investors.

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.