JetBlue Airways (NASDAQ:JBLU) PT Lowered to $19.00 at Cowen

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by equities researchers at Cowen from $20.00 to $19.00 in a research note issued on Thursday, Briefing.com Automated Import reports. The brokerage presently has a “market perform” rating on the transportation company’s stock. Cowen’s target price would suggest a potential upside of 9.70% from the stock’s current price.

JBLU has been the topic of a number of other reports. ValuEngine downgraded shares of JetBlue Airways from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, September 2nd. TheStreet downgraded shares of JetBlue Airways from a “b” rating to a “c+” rating in a report on Wednesday, August 28th. Buckingham Research lowered their target price on shares of JetBlue Airways from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Vertical Research upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $17.98 target price on the stock in a report on Friday, June 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.23.

Shares of JBLU opened at $17.32 on Thursday. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.40 and a beta of 0.89. JetBlue Airways has a 1-year low of $15.19 and a 1-year high of $20.14. The company’s fifty day simple moving average is $18.18 and its 200 day simple moving average is $17.83. The company has a current ratio of 0.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.42.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. JetBlue Airways had a net margin of 5.53% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, research analysts forecast that JetBlue Airways will post 1.99 earnings per share for the current year.

In other JetBlue Airways news, CEO Robin Hayes sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $19.14, for a total value of $47,850.00. Following the transaction, the chief executive officer now directly owns 478,393 shares in the company, valued at $9,156,442.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brandon Nelson sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $19.43, for a total transaction of $58,290.00. Following the completion of the transaction, the senior vice president now owns 4,429 shares in the company, valued at $86,055.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,835 shares of company stock worth $225,845. Corporate insiders own 0.79% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of JetBlue Airways by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,681,112 shares of the transportation company’s stock valued at $59,118,000 after acquiring an additional 120,122 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of JetBlue Airways by 2.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,877 shares of the transportation company’s stock valued at $522,000 after acquiring an additional 648 shares in the last quarter. State Treasurer State of Michigan grew its stake in shares of JetBlue Airways by 0.6% in the first quarter. State Treasurer State of Michigan now owns 109,223 shares of the transportation company’s stock valued at $1,787,000 after acquiring an additional 600 shares in the last quarter. Quinn Opportunity Partners LLC grew its stake in shares of JetBlue Airways by 21.0% in the first quarter. Quinn Opportunity Partners LLC now owns 225,000 shares of the transportation company’s stock valued at $3,681,000 after acquiring an additional 39,000 shares in the last quarter. Finally, Mason Street Advisors LLC grew its stake in shares of JetBlue Airways by 2.1% in the first quarter. Mason Street Advisors LLC now owns 163,005 shares of the transportation company’s stock valued at $2,667,000 after acquiring an additional 3,358 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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