JetBlue Airways Corp. (JBLU) Upgraded to Buy at Vetr Inc.
JetBlue Airways Corp. (NASDAQ:JBLU) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $18.40 price target on the stock. Vetr‘s price target would indicate a potential upside of 5.81% from the stock’s current price.
Several other equities research analysts have also weighed in on JBLU. Cowen and Company restated a “buy” rating and set a $23.00 price target on shares of JetBlue Airways Corp. in a research report on Monday, June 13th. Raymond James Financial Inc. restated an “outperform” rating on shares of JetBlue Airways Corp. in a research report on Wednesday, June 15th. Zacks Investment Research lowered JetBlue Airways Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 16th. Credit Suisse Group AG restated an “underweight” rating on shares of JetBlue Airways Corp. in a research report on Saturday, June 25th. Finally, JPMorgan Chase & Co. dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.37.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) opened at 17.39 on Monday. 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 12 month low of $14.76 and a 12 month high of $27.09. The stock’s 50 day moving average price is $16.80 and its 200 day moving average price is $17.98.
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JetBlue Airways Corp. (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts expect that JetBlue Airways Corp. will post $2.19 EPS for the current year.
In related news, EVP James G. Hnat sold 10,000 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $17.27, for a total transaction of $172,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $18.27, for a total value of $93,542.40. Following the sale, the director now owns 604,893 shares of the company’s stock, valued at approximately $11,051,395.11. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in JetBlue Airways Corp. by 0.3% in the first quarter. Wellington Management Group LLP now owns 5,007,499 shares of the company’s stock worth $105,758,000 after buying an additional 14,295 shares during the period. Geode Capital Management LLC boosted its stake in JetBlue Airways Corp. by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,548,480 shares of the company’s stock worth $53,823,000 after buying an additional 256,507 shares during the period. Retirement Systems of Alabama boosted its stake in JetBlue Airways Corp. by 123.2% in the second quarter. Retirement Systems of Alabama now owns 923,915 shares of the company’s stock worth $15,300,000 after buying an additional 509,898 shares during the period. Alambic Investment Management L.P. purchased a new stake in JetBlue Airways Corp. during the second quarter worth approximately $444,000. Finally, Capital Fund Management S.A. boosted its stake in JetBlue Airways Corp. by 401.9% in the second quarter. Capital Fund Management S.A. now owns 976,431 shares of the company’s stock worth $16,170,000 after buying an additional 781,870 shares during the period. 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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