JetBlue Airways (NASDAQ:JBLU) Given New $7.00 Price Target at Morgan Stanley

JetBlue Airways (NASDAQ:JBLU) had its price objective cut by research analysts at Morgan Stanley from $8.00 to $7.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective suggests a potential upside of 40.42% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Citigroup assumed coverage on JetBlue Airways in a research report on Thursday. They issued a “sell” rating and a $4.10 price objective for the company. UBS Group lifted their price objective on shares of JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a research report on Friday, September 5th. Susquehanna increased their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. TD Cowen lifted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.04.

JetBlue Airways Stock Performance

NASDAQ JBLU traded up $0.20 on Monday, hitting $4.99. 1,453,511 shares of the stock were exchanged, compared to its average volume of 22,549,314. The company has a market capitalization of $1.81 billion, a PE ratio of -3.79 and a beta of 1.76. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.82 and a quick ratio of 0.77. The business’s fifty day moving average is $4.49 and its 200 day moving average is $4.67. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. JetBlue Airways’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. Research analysts anticipate that JetBlue Airways will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after purchasing an additional 5,049 shares during the period. Bogart Wealth LLC grew its holdings in shares of JetBlue Airways by 12,727.3% during the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after purchasing an additional 7,000 shares in the last quarter. HUB Investment Partners LLC acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth $45,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of JetBlue Airways in the second quarter worth $47,000. Finally, Ballentine Partners LLC acquired a new position in JetBlue Airways in the second quarter valued at about $48,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.