JetBlue Airways Corp. (JBLU) Rating Lowered to Buy at Vetr Inc.
JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $19.72 target price on the stock. Vetr‘s price objective would indicate a potential upside of 11.73% from the company’s current price.
Other analysts also recently issued research reports about the company. Cowen and Company reaffirmed a “buy” rating and issued a $23.00 target price on shares of JetBlue Airways Corp. in a research report on Monday, June 13th. Credit Suisse Group AG set a $20.00 target price on JetBlue Airways Corp. and gave the company a “hold” rating in a research report on Monday, September 12th. Morgan Stanley reaffirmed a “hold” rating and issued a $19.00 target price on shares of JetBlue Airways Corp. in a research report on Sunday, August 21st. JPMorgan Chase & Co. lowered their target price on JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 27th. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of JetBlue Airways Corp. in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.98.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded up 2.44% during midday trading on Monday, hitting $17.66. The stock had a trading volume of 6,139,039 shares. The stock has a 50 day moving average price of $16.71 and a 200-day moving average price of $18.02. JetBlue Airways Corp. has a 52 week low of $14.76 and a 52 week high of $27.09. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 7.84 and a beta of 0.35.
JetBlue Airways Corp. (NASDAQ:JBLU) last released its earnings results on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. JetBlue Airways Corp.’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities research analysts anticipate 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 business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $15.81, for a total transaction of $80,947.20. Following the completion of the sale, the director now owns 599,773 shares in the company, valued at $9,482,411.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robin Hayes sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $16.18, for a total value of $80,900.00. Following the sale, the chief executive officer now owns 359,881 shares of the company’s stock, valued at approximately $5,822,874.58. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Several large investors have recently modified their holdings of JBLU. Wexford Capital LP purchased a new stake in shares of JetBlue Airways Corp. during the first quarter worth about $5,252,000. M&T Bank Corp boosted its stake in shares of JetBlue Airways Corp. by 3.0% in the first quarter. M&T Bank Corp now owns 23,975 shares of the company’s stock valued at $506,000 after buying an additional 696 shares during the period. Menta Capital LLC boosted its stake in shares of JetBlue Airways Corp. by 21.3% in the first quarter. Menta Capital LLC now owns 54,200 shares of the company’s stock valued at $1,145,000 after buying an additional 9,500 shares during the period. Shufro Rose & Co. LLC boosted its stake in shares of JetBlue Airways Corp. by 3.4% in the first quarter. Shufro Rose & Co. LLC now owns 10,387 shares of the company’s stock valued at $219,000 after buying an additional 337 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in shares of JetBlue Airways Corp. during the first quarter valued at about $112,000. Institutional investors own 79.64% of the company’s stock.
JetBlue Airways Corp. Company Profile
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.
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