Delta Air Lines (NYSE:DAL) Given New $56.00 Price Target at Bank of America

Delta Air Lines (NYSE:DAL) had its target price decreased by research analysts at Bank of America from $65.00 to $56.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 29.09% from the stock’s previous close.

DAL has been the subject of several other reports. StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. TD Cowen raised their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Susquehanna boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $71.49.

Delta Air Lines Trading Up 2.3 %

NYSE:DAL opened at $43.38 on Thursday. The firm has a market capitalization of $28.04 billion, a P/E ratio of 8.14, a PEG ratio of 0.75 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines has a one year low of $37.29 and a one year high of $69.98. The company’s 50-day simple moving average is $57.49 and its 200 day simple moving average is $58.26.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 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 for the quarter, compared to analysts’ expectations of $14.20 billion. During the same period in the previous year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that Delta Air Lines will post 7.63 EPS for the current fiscal year.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 6,783 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the sale, the senior vice president now directly owns 10,016 shares in the company, valued at $660,455.04. This represents a 40.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,886 shares of company stock worth $11,116,463 in the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Boston Partners bought a new position in shares of Delta Air Lines during the 4th quarter valued at approximately $328,398,000. Norges Bank bought a new position in shares of Delta Air Lines in the fourth quarter worth approximately $152,342,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Delta Air Lines by 405.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,054,285 shares of the transportation company’s stock worth $184,784,000 after purchasing an additional 2,449,874 shares during the period. FMR LLC increased its stake in shares of Delta Air Lines by 29.3% in the fourth quarter. FMR LLC now owns 9,955,818 shares of the transportation company’s stock worth $602,327,000 after purchasing an additional 2,254,560 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Delta Air Lines by 6.9% during the 4th quarter. Sanders Capital LLC now owns 29,764,524 shares of the transportation company’s stock valued at $1,800,754,000 after purchasing an additional 1,922,932 shares during the period. Institutional investors 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.