Delta Air Lines (DAL) Downgraded to Neutral at Bank of America

Delta Air Lines (NYSE:DAL) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $51.00 target price on the transportation company’s stock, down from their previous target price of $62.00. Bank of America‘s price objective indicates a potential upside of 7.98% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Imperial Capital raised their price objective on shares of Delta Air Lines from $76.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, December 4th. Buckingham Research cut their price objective on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Morgan Stanley set a $65.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Friday, October 5th. Citigroup started coverage on shares of Delta Air Lines in a research report on Wednesday, November 28th. They issued a “positive” rating and a $69.00 price target on the stock. Finally, Goldman Sachs Group started coverage on shares of Delta Air Lines in a research report on Monday, November 12th. They issued a “neutral” rating and a $64.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.38.

DAL traded down $1.33 during midday trading on Monday, hitting $47.23. 154,533 shares of the company’s stock traded hands, compared to its average volume of 9,895,146. The firm has a market cap of $33.23 billion, a PE ratio of 9.60, a PEG ratio of 0.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.37. Delta Air Lines has a one year low of $45.08 and a one year high of $61.32.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.06. The firm had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.96 billion. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. During the same quarter last year, the firm earned $1.57 earnings per share. On average, sell-side analysts anticipate that Delta Air Lines will post 5.56 earnings per share for the current fiscal year.

In other news, CEO Edward H. Bastian sold 60,000 shares of Delta Air Lines stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $50.00, for a total value of $3,000,000.00. Following the transaction, the chief executive officer now owns 326,943 shares of the company’s stock, valued at $16,347,150. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George N. Mattson acquired 4,000 shares of the stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $50.91 per share, for a total transaction of $203,640.00. Following the purchase, the director now owns 72,530 shares of the company’s stock, valued at approximately $3,692,502.30. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Csenge Advisory Group acquired a new stake in shares of Delta Air Lines in the third quarter worth $42,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Delta Air Lines in the third quarter worth $116,000. Bell Rock Capital LLC acquired a new stake in shares of Delta Air Lines in the third quarter worth $122,000. Capital Advisors Ltd. LLC acquired a new stake in shares of Delta Air Lines in the third quarter worth $139,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Delta Air Lines in the third quarter worth $143,000. Institutional investors and hedge funds own 87.59% 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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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