JetBlue Airways Corp. (NASDAQ:JBLU) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm currently has a $20.12 target price on the stock. Vetr‘s target price indicates a potential upside of 15.70% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Cowen and Company reiterated a “buy” rating and issued a $23.00 target price on shares of JetBlue Airways Corp. in a report on Monday, June 13th. Zacks Investment Research upgraded shares of JetBlue Airways Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday. Credit Suisse Group AG set a $20.00 target price on shares of JetBlue Airways Corp. and gave the company a “hold” rating in a report on Monday, September 12th. Morgan Stanley reiterated a “hold” rating and issued a $19.00 target price on shares of JetBlue Airways Corp. in a report on Sunday, August 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $23.37.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded down 1.31% during mid-day trading on Tuesday, hitting $17.39. 3,253,044 shares of the company traded hands. The firm has a 50-day moving average of $16.80 and a 200-day moving average of $17.98. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 7.72 and a beta of 0.36. JetBlue Airways Corp. has a one year low of $14.76 and a one year high of $27.09.
JetBlue Airways Corp. (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The company earned $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. JetBlue Airways Corp. had a net margin of 11.73% and a return on equity of 22.84%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, equities analysts predict that JetBlue Airways Corp. will post $2.19 earnings per share for the current year.
In other news, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $17.35, for a total value of $88,832.00. Following the completion of the transaction, the director now directly owns 594,653 shares in the company, valued at $10,317,229.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James G. Hnat sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $17.27, for a total transaction of $172,700.00. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in shares of JetBlue Airways Corp. by 22.6% in the second quarter. Acrospire Investment Management LLC now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 1,200 shares in the last quarter. Exane Derivatives increased its stake in shares of JetBlue Airways Corp. by 173.3% in the second quarter. Exane Derivatives now owns 6,623 shares of the company’s stock worth $110,000 after buying an additional 4,200 shares in the last quarter. Cribstone Capital Management LLC bought a new stake in shares of JetBlue Airways Corp. during the second quarter worth $115,000. Advisor Group Inc. bought a new stake in shares of JetBlue Airways Corp. during the second quarter worth $163,000. Finally, Advance Capital I Inc. bought a new stake in shares of JetBlue Airways Corp. during the second quarter worth $167,000. Institutional investors own 79.64% of the company’s stock.
About JetBlue Airways Corp.
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint.