Delta Air Lines (NYSE:DAL) Given New $60.00 Price Target at The Goldman Sachs Group

Delta Air Lines (NYSE:DAL) had its price target decreased by stock analysts at The Goldman Sachs Group from $83.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 38.34% from the company’s previous close.

A number of other brokerages have also weighed in on DAL. Barclays reduced their price target on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group restated a “hold” rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Susquehanna lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. Finally, Raymond James dropped their price target on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and an average target price of $71.77.

Delta Air Lines Stock Performance

NYSE DAL traded up $0.95 on Wednesday, hitting $43.37. The stock had a trading volume of 4,765,279 shares, compared to its average volume of 9,066,625. The company’s 50-day moving average is $57.98 and its two-hundred day moving average is $58.36. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of 8.14, a P/E/G ratio of 0.75 and a beta of 1.34. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines has a one year low of $37.29 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly 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. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, analysts expect that Delta Air Lines will post 7.63 earnings per share for the current year.

Insider Transactions at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at $30,721,357.15. This represents a 17.25 % 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 link. Also, SVP William C. Carroll sold 8,400 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock valued at $11,116,463 over the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. Donoghue Forlines LLC purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $2,036,000. Geode Capital Management LLC raised its stake in shares of Delta Air Lines by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock worth $789,452,000 after purchasing an additional 416,338 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Delta Air Lines during the 4th quarter valued at about $3,593,000. Global Financial Private Client LLC grew its stake in shares of Delta Air Lines by 562.0% in the 4th quarter. Global Financial Private Client LLC now owns 11,260 shares of the transportation company’s stock valued at $681,000 after buying an additional 9,559 shares in the last quarter. Finally, BluePath Capital Management LLC increased its holdings in Delta Air Lines by 23.9% in the fourth quarter. BluePath Capital Management LLC now owns 23,657 shares of the transportation company’s stock worth $1,540,000 after buying an additional 4,567 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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.