JetBlue Airways Corp. (JBLU) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of JetBlue Airways Corp. (NASDAQ:JBLU) from a buy rating to a strong-buy rating in a research note released on Tuesday. The brokerage currently has $20.12 price target on the stock.
A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of JetBlue Airways Corp. from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Tuesday. Imperial Capital initiated coverage on shares of JetBlue Airways Corp. in a report on Friday, September 16th. They issued an outperform rating and a $21.00 target price on the stock. 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 reaffirmed 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 on the stock in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $23.51.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) opened at 17.83 on Tuesday. The firm has a 50-day moving average of $16.73 and a 200 day moving average of $18.00. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 7.92 and a beta of 0.36. JetBlue Airways Corp. has a 12-month low of $14.76 and a 12-month high of $27.09.
JetBlue Airways Corp. (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. JetBlue Airways Corp. had a net margin of 11.73% and a return on equity of 22.84%. JetBlue Airways Corp.’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Equities analysts forecast that JetBlue Airways Corp. will post $2.19 earnings per share for the current fiscal year.
In other JetBlue Airways Corp. news, Director Joel Clinton Peterson sold 5,120 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $15.81, for a total value of $80,947.20. Following the sale, the director now owns 599,773 shares of the company’s stock, valued at $9,482,411.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James G. Hnat sold 10,000 shares of the company’s stock in a transaction dated 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 company insiders.
Several hedge funds have recently made changes to their positions in JBLU. Acrospire Investment Management LLC raised its position in 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 raised its position in 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 purchased a new position in JetBlue Airways Corp. during the second quarter worth $115,000. Advisor Group Inc. purchased a new position in JetBlue Airways Corp. during the second quarter worth $163,000. Finally, Advance Capital I Inc. purchased a new position in JetBlue Airways Corp. during the second quarter worth $167,000. 79.64% of the stock is currently owned by institutional investors.
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.
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