JetBlue Airways (JBLU) Given a $20.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $20.00 price objective on JetBlue Airways (NASDAQ:JBLU) in a research note published on Friday morning. The firm currently has a hold rating on the transportation company’s stock.

Several other research firms have also issued reports on JBLU. Zacks Investment Research upgraded shares of JetBlue Airways from a strong sell rating to a hold rating in a research report on Wednesday, July 11th. ValuEngine upgraded shares of JetBlue Airways from a sell rating to a hold rating in a research report on Thursday, July 19th. Imperial Capital restated an outperform rating and issued a $26.00 price target on shares of JetBlue Airways in a research report on Monday, July 16th. They noted that the move was a valuation call. Bank of America set a $16.00 price target on shares of JetBlue Airways and gave the stock a sell rating in a research report on Wednesday, October 3rd. Finally, Wolfe Research restated an underperform rating on shares of JetBlue Airways in a research report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. JetBlue Airways currently has an average rating of Hold and an average price target of $22.00.

NASDAQ JBLU opened at $17.98 on Friday. JetBlue Airways has a 12 month low of $17.10 and a 12 month high of $23.08. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.06 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.28 and a beta of 0.49.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 24th. The transportation company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. JetBlue Airways had a net margin of 11.30% and a return on equity of 10.80%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways will post 1.48 EPS for the current fiscal year.

In related news, EVP James G. Hnat sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $19.30, for a total value of $115,800.00. Following the completion of the transaction, the executive vice president now owns 3,437 shares of the company’s stock, valued at approximately $66,334.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $19.39, for a total transaction of $58,170.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,000 shares of company stock worth $248,150. 0.63% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in JetBlue Airways by 39.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 35,250 shares of the transportation company’s stock worth $669,000 after purchasing an additional 10,060 shares during the period. Renaissance Technologies LLC acquired a new position in JetBlue Airways in the 2nd quarter worth approximately $29,956,000. BNP Paribas Arbitrage SA boosted its stake in JetBlue Airways by 208.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 207,858 shares of the transportation company’s stock worth $3,945,000 after purchasing an additional 140,372 shares during the period. Principal Financial Group Inc. boosted its stake in JetBlue Airways by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,396,759 shares of the transportation company’s stock worth $28,382,000 after purchasing an additional 39,895 shares during the period. Finally, Bank of Montreal Can boosted its stake in JetBlue Airways by 123.6% in the 2nd quarter. Bank of Montreal Can now owns 439,859 shares of the transportation company’s stock worth $8,349,000 after purchasing an additional 243,183 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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