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

Delta Air Lines (NYSE:DAL - Get Free Report) had its price objective cut by investment analysts at Citigroup from $80.00 to $72.00 in a 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 suggests a potential upside of 53.57% from the company's previous close.

DAL has been the subject of a number of other reports. TD Cowen boosted their price objective 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. 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. Barclays lowered their price target on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. UBS Group decreased their target price on Delta Air Lines from $90.00 to $77.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Finally, StockNews.com raised Delta Air Lines from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines has an average rating of "Buy" and a consensus price target of $76.29.

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Delta Air Lines Stock Down 0.1 %

DAL traded down $0.07 during midday trading on Tuesday, hitting $46.89. 17,058,560 shares of the company's stock traded hands, compared to its average volume of 8,795,711. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. The company has a market cap of $30.31 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The stock's fifty day simple moving average is $60.80 and its 200-day simple moving average is $58.13. Delta Air Lines has a one year low of $37.29 and a one year high of $69.98.

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

Insider Activity at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP William C. Carroll sold 8,400 shares of the company's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,304,291.12. This trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,886 shares of company stock valued at $11,116,463 in the last ninety days. Insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Delta Air Lines

A number of large investors have recently modified their holdings of the stock. Donoghue Forlines LLC acquired a new position in Delta Air Lines during the 4th quarter worth $2,036,000. New Millennium Group LLC lifted its stake in shares of Delta Air Lines by 314.0% during the third quarter. New Millennium Group LLC now owns 36,460 shares of the transportation company's stock valued at $1,852,000 after acquiring an additional 27,654 shares during the period. Geode Capital Management LLC boosted its holdings in Delta Air Lines by 2.8% in the third quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company's stock valued at $789,452,000 after acquiring an additional 416,338 shares during the last quarter. Castle Hook Partners LP acquired a new stake in Delta Air Lines in the third quarter worth about $189,296,000. Finally, Meridian Wealth Management LLC bought a new stake in Delta Air Lines during the 3rd quarter worth about $1,693,000. 69.93% of the stock is currently 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.