Delta Air Lines Inc. (NYSE:DAL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $37.44, but opened at $38.12. Delta Air Lines shares last traded at $39.58, with a volume of 11,605,876 shares.

DAL has been the subject of several research analyst reports. Vetr downgraded Delta Air Lines from a “buy” rating to a “sell” rating and set a $47.16 target price for the company. in a research note on Wednesday, March 16th. Stephens initiated coverage on Delta Air Lines in a research note on Tuesday, March 29th. They set an “overweight” rating and a $65.00 target price for the company. Zacks Investment Research downgraded Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. Deutsche Bank AG downgraded Delta Air Lines from a “buy” rating to a “hold” rating and lowered their target price for the stock from $68.00 to $55.00 in a research note on Friday, April 1st. Finally, Morgan Stanley reissued a “buy” rating on shares of Delta Air Lines in a research note on Friday, June 10th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $61.26.

The stock has a 50-day moving average price of $39.35 and a 200 day moving average price of $44.39. The stock has a market cap of $31.12 billion and a P/E ratio of 6.74.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, April 14th. The company reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.03. The firm had revenue of $9.25 billion for the quarter, compared to analysts’ expectations of $9.24 billion. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities analysts predict that Delta Air Lines Inc. will post $5.94 earnings per share for the current year.

In related news, Chairman Richard H. Anderson sold 912,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $43.75, for a total transaction of $39,900,000.00. Following the transaction, the chairman now directly owns 1,047,827 shares of the company’s stock, valued at approximately $45,842,431.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard H. Anderson sold 264,300 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $46.49, for a total value of $12,287,307.00. Following the transaction, the chief executive officer now directly owns 591,008 shares in the company, valued at $27,475,961.92. The disclosure for this sale can be found here.

Several institutional investors have recently made changes to their positions in DAL. LS Investment Advisors LLC boosted its position in shares of Delta Air Lines by 64.9% in the fourth quarter. LS Investment Advisors LLC now owns 23,084 shares of the company’s stock worth $1,170,000 after buying an additional 9,083 shares in the last quarter. Monetta Financial Services Inc. purchased a new position in shares of Delta Air Lines during the fourth quarter worth $1,217,000. Glacier Peak Capital LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $1,521,000. Fagan Associates Inc. purchased a new position in shares of Delta Air Lines during the fourth quarter worth $1,529,000. Finally, Matarin Capital Management LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $1,568,000.

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

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