Delta Air Lines (NYSE:DAL) Price Target Raised to $76.00

Delta Air Lines (NYSE:DAL) had its price objective hoisted by investment analysts at Citigroup from $65.00 to $76.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 19.50% from the stock’s current price.

A number of other brokerages also recently issued reports on DAL. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Barclays boosted their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Sanford C. Bernstein raised their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group upped their price objective on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.83.

Delta Air Lines Stock Performance

DAL opened at $63.60 on Tuesday. Delta Air Lines has a twelve month low of $35.46 and a twelve month high of $66.25. The firm has a market capitalization of $41.04 billion, a PE ratio of 8.83, a PEG ratio of 1.23 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $56.08 and its 200 day moving average price is $49.37.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Delta Air Lines will post 6.07 EPS for the current fiscal year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 3.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allison C. Ausband sold 7,510 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the transaction, the executive vice president now owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock worth $8,044,893 in the last three months. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of hedge funds have recently bought and sold shares of DAL. Future Financial Wealth Managment LLC acquired a new position in shares of Delta Air Lines during the third quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines during the 3rd quarter worth approximately $31,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter valued at approximately $31,000. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 69.93% 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.