Delta Air Lines Inc. (NYSE:DAL) dropped 2.6% during mid-day trading on Friday . The company traded as low as $39.71 and last traded at $39.93, with a volume of 8,627,057 shares changing hands. The stock had previously closed at $40.98.

DAL has been the subject of a number of research reports. Evercore Partners Inc. reissued a “hold” rating on shares of Delta Air Lines in a research note on Friday. Zacks Investment Research lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. Credit Suisse Group AG lifted their price objective on shares of Delta Air Lines from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, July 6th. Deutsche Bank AG raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday. Finally, Raymond James Financial Inc. lifted their price objective on shares of Delta Air Lines to $62.00 in a research note on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $59.78.

The company’s 50-day moving average price is $39.15 and its 200-day moving average price is $44.33. The stock has a market cap of $30.94 billion and a PE ratio of 6.70.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 14th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The firm earned $10.45 billion during the quarter, compared to analyst estimates of $10.51 billion. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. Equities research analysts predict that Delta Air Lines Inc. will post $5.90 EPS for the current year.

In other news, CEO Edward H. Bastian sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $44.11, for a total transaction of $4,411,000.00. Following the completion of the sale, the chief executive officer now owns 382,302 shares in the company, valued at approximately $16,863,341.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO W Gilbert West sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $44.00, for a total transaction of $528,000.00. Following the sale, the chief operating officer now owns 106,990 shares of the company’s stock, valued at approximately $4,707,560. The disclosure for this sale can be found here.

Several hedge funds recently bought and sold shares of the company. GAM Holding AG boosted its stake in Delta Air Lines by 14.5% in the fourth quarter. GAM Holding AG now owns 103,361 shares of the company’s stock worth $5,239,000 after buying an additional 13,077 shares in the last quarter. Spectrum Management Group Inc. raised its position in Delta Air Lines by 14.8% in the fourth quarter. Spectrum Management Group Inc. now owns 33,120 shares of the company’s stock worth $1,679,000 after buying an additional 4,280 shares in the last quarter. Principal Financial Group Inc. raised its position in Delta Air Lines by 13.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,049,932 shares of the company’s stock worth $103,912,000 after buying an additional 236,710 shares in the last quarter. Advantus Capital Management Inc raised its position in Delta Air Lines by 0.6% in the fourth quarter. Advantus Capital Management Inc now owns 75,202 shares of the company’s stock worth $3,812,000 after buying an additional 437 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Delta Air Lines by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 43,325,413 shares of the company’s stock worth $2,196,165,000 after buying an additional 450,073 shares in the last quarter.

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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