Shares of Delta Air Lines Inc. (NYSE:DAL) were down 2.6% during mid-day trading on Thursday . The company traded as low as $38.53 and last traded at $39.16, with a volume of 8,701,897 shares traded. The stock had previously closed at $40.21.

A number of analysts have recently issued reports on DAL shares. Raymond James Financial Inc. lifted their target price on Delta Air Lines to $62.00 in a research report on Friday, March 25th. Buckingham Research reaffirmed a “buy” rating on shares of Delta Air Lines in a research report on Friday, April 15th. Morgan Stanley reaffirmed a “buy” rating on shares of Delta Air Lines in a research report on Sunday, April 17th. Bank of America Corp. reaffirmed a “buy” rating and set a $65.00 target price on shares of Delta Air Lines in a research report on Tuesday, May 17th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Delta Air Lines in a research report on Monday, May 16th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines currently has an average rating of “Buy” and an average price target of $59.56.

The stock has a 50-day moving average of $38.93 and a 200 day moving average of $44.00. The firm has a market capitalization of $29.20 billion and a price-to-earnings ratio of 6.27.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 14th. The company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts anticipate that Delta Air Lines Inc. will post $5.89 EPS for the current year.

In other news, Chairman Richard H. Anderson sold 758,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $40.07, for a total transaction of $30,373,060.00. Following the completion of the transaction, the chairman now owns 743,827 shares of the company’s stock, valued at $29,805,147.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 20,000 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $42.62, for a total transaction of $852,400.00. Following the transaction, the chief executive officer now directly owns 282,302 shares of the company’s stock, valued at approximately $12,031,711.24. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently made changes to their positions in the stock. LS Investment Advisors LLC raised 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. bought a new position in shares of Delta Air Lines during the fourth quarter worth approximately $1,217,000. Glacier Peak Capital LLC bought a new position in shares of Delta Air Lines during the fourth quarter worth approximately $1,521,000. Matarin Capital Management LLC bought a new position in shares of Delta Air Lines during the fourth quarter worth approximately $1,568,000. Finally, Spectrum Management Group Inc. raised its position in shares of 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.

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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