Vetr Inc. Downgrades JetBlue Airways Corp. (JBLU) to Buy
JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $19.72 target price on the stock. Vetr‘s target price suggests a potential upside of 13.40% from the stock’s current price.
Several other research analysts also recently commented on JBLU. Cowen and Company reaffirmed a “buy” rating and issued a $23.00 target price on shares of JetBlue Airways Corp. in a research note on Monday, June 13th. Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of JetBlue Airways Corp. in a research note on Wednesday, June 15th. Zacks Investment Research downgraded shares of JetBlue Airways Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 16th. Credit Suisse Group AG reissued an “underweight” rating on shares of JetBlue Airways Corp. in a research report on Saturday, June 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $23.37.
JetBlue Airways Corp. (NASDAQ:JBLU) traded down 1.31% on Monday, hitting $17.39. 3,253,044 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $16.80 and a 200-day moving average price of $17.98. JetBlue Airways Corp. has a 52-week low of $14.76 and a 52-week high of $27.09. The stock has a market cap of $5.63 billion, a P/E ratio of 7.72 and a beta of 0.36.
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JetBlue Airways Corp. (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. JetBlue Airways Corp. had a net margin of 11.73% and a return on equity of 22.84%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts predict that JetBlue Airways Corp. will post $2.19 earnings per share for the current fiscal year.
In related news, Director Joel Clinton Peterson sold 5,120 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $18.27, for a total value of $93,542.40. Following the transaction, the director now owns 604,893 shares in the company, valued at approximately $11,051,395.11. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was 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 corporate insiders.
A number of institutional investors have recently made changes to their positions in JBLU. Norges Bank purchased a new position in shares of JetBlue Airways Corp. during the fourth quarter worth about $33,966,000. Glenmede Trust Co. NA boosted its position in shares of JetBlue Airways Corp. by 2.4% in the first quarter. Glenmede Trust Co. NA now owns 60,832 shares of the company’s stock worth $1,283,000 after buying an additional 1,433 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of JetBlue Airways Corp. by 2.5% in the first quarter. Teachers Advisors Inc. now owns 560,799 shares of the company’s stock worth $11,844,000 after buying an additional 13,626 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of JetBlue Airways Corp. by 2.0% in the first quarter. Stratos Wealth Partners LTD. now owns 11,481 shares of the company’s stock worth $242,000 after buying an additional 220 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its position in JetBlue Airways Corp. by 90.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 295,431 shares of the company’s stock valued at $6,240,000 after buying an additional 140,539 shares in the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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