The Goldman Sachs Group Has Lowered Expectations for Delta Air Lines (NYSE:DAL) Stock Price

Delta Air Lines (NYSE:DAL) had its price target reduced by equities researchers at The Goldman Sachs Group from $83.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 38.34% from the stock’s current price.

A number of other research firms have also weighed in on DAL. Raymond James cut their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Barclays cut their price objective on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Susquehanna upped their target price 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. Finally, UBS Group decreased 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 research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $71.77.

Delta Air Lines Stock Up 2.2 %

Shares of NYSE:DAL traded up $0.95 on Wednesday, reaching $43.37. The company had a trading volume of 4,765,279 shares, compared to its average volume of 9,066,625. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $28.04 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.75 and a beta of 1.34. The stock has a 50-day moving average price of $57.98 and a 200 day moving average price of $58.36. Delta Air Lines has a twelve month low of $37.29 and a twelve month high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that Delta Air Lines will post 7.63 EPS for the current year.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 52,789 shares of the company’s stock, valued at approximately $3,425,478.21. The trade was a 41.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 8,400 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $66.02, for a total value of $554,568.00. Following the sale, the senior vice president now owns 19,756 shares in the company, valued at $1,304,291.12. The trade was a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,886 shares of company stock valued at $11,116,463 in the last three months. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delta Air Lines

A number of institutional investors have recently modified their holdings of DAL. New Wave Wealth Advisors LLC bought a new position in Delta Air Lines in the 4th quarter worth approximately $27,000. Hemington Wealth Management lifted its stake in shares of Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 154 shares during the period. Roxbury Financial LLC bought a new position in Delta Air Lines in the fourth quarter valued at about $29,000. Crews Bank & Trust bought a new position in Delta Air Lines in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in 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 worth $32,000 after purchasing an additional 431 shares during the period. 69.93% of the stock is owned by institutional investors.

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.