Barclays Cuts Delta Air Lines (NYSE:DAL) Price Target to $58.00

Delta Air Lines (NYSE:DAL) had its price target cut by Barclays from $80.00 to $58.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other research firms have also recently commented on DAL. Raymond James decreased 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, April 2nd. Citigroup lowered their price objective on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Susquehanna reduced their target price on Delta Air Lines from $80.00 to $50.00 and set a “positive” rating on the stock in a research report on Monday. UBS Group downgraded Delta Air Lines from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $42.00 in a report on Monday. Finally, The Goldman Sachs Group cut their price objective 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, April 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.63.

Delta Air Lines Trading Down 4.0 %

Shares of NYSE:DAL opened at $35.80 on Tuesday. The company has a market capitalization of $23.14 billion, a PE ratio of 6.72, a P/E/G ratio of 0.75 and a beta of 1.23. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines has a 12-month low of $34.74 and a 12-month high of $69.98. The business’s fifty day simple moving average is $54.42 and its 200-day simple moving average is $57.92.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. As a group, equities research analysts predict that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.68%. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the sale, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DAL. Vanguard Group Inc. grew its position in shares of Delta Air Lines by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 72,410,242 shares of the transportation company’s stock valued at $4,380,820,000 after acquiring an additional 456,465 shares during the period. Sanders Capital LLC grew its holdings in Delta Air Lines by 6.9% in the fourth 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. Geode Capital Management LLC increased its position in shares of Delta Air Lines by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 15,912,584 shares of the transportation company’s stock valued at $968,234,000 after buying an additional 410,648 shares in the last quarter. Capital World Investors raised its stake in shares of Delta Air Lines by 0.3% during the 4th quarter. Capital World Investors now owns 15,180,467 shares of the transportation company’s stock worth $918,419,000 after buying an additional 46,101 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Delta Air Lines by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,090,209 shares of the transportation company’s stock valued at $670,994,000 after buying an additional 92,208 shares in the last quarter. 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.