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

Delta Air Lines (NYSE:DAL) had its target price cut by Citigroup from $80.00 to $72.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

DAL has been the subject of a number of other reports. StockNews.com raised Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 21st. UBS Group cut their target price 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. TD Cowen increased 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. Finally, Susquehanna lifted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $76.29.

Delta Air Lines Stock Down 1.7 %

DAL stock opened at $46.92 on Tuesday. The stock has a market cap of $30.33 billion, a P/E ratio of 8.80, a PEG ratio of 0.75 and a beta of 1.34. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines has a twelve month low of $37.29 and a twelve month high of $69.98. The company’s 50 day moving average is $61.21 and its two-hundred day moving average is $57.99.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping 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 firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period last year, the business earned $1.28 EPS. Delta Air Lines’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts expect that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. This trade represents a 29.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total value of $2,467,312.47. Following the sale, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their position. 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. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

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