Citigroup Forecasts Strong Price Appreciation for Delta Air Lines (NYSE:DAL) Stock

Delta Air Lines (NYSE:DAL) had its price target hoisted by Citigroup from $65.00 to $76.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 19.50% from the stock’s previous close.

Several other equities analysts also recently issued reports on DAL. Barclays upped their price objective 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. TD Cowen upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Bank of America upped their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $75.83.

Delta Air Lines Price Performance

Shares of DAL opened at $63.60 on Tuesday. The company has a 50 day moving average of $56.08 and a two-hundred day moving average of $49.37. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines has a twelve month low of $35.46 and a twelve month high of $66.25. The company has a market cap of $41.04 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the business earned $2.03 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that Delta Air Lines will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value 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. The trade was a 11.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. The trade was a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock worth $8,044,893 in the last three months. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Delta Air Lines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in Delta Air Lines by 31.5% in the 3rd quarter. Tidal Investments LLC now owns 82,635 shares of the transportation company’s stock worth $4,197,000 after acquiring an additional 19,815 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Delta Air Lines by 7.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,111 shares of the transportation company’s stock worth $463,000 after purchasing an additional 667 shares during the last quarter. World Investment Advisors LLC purchased a new position in Delta Air Lines in the 3rd quarter valued at about $301,000. Invst LLC boosted its holdings in Delta Air Lines by 2.2% in the 3rd quarter. Invst LLC now owns 43,929 shares of the transportation company’s stock worth $2,231,000 after buying an additional 954 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in Delta Air Lines by 4.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 11,053 shares of the transportation company’s stock worth $561,000 after buying an additional 461 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other 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.