JetBlue Airways (NASDAQ:JBLU) Given New $16.00 Price Target at Morgan Stanley

JetBlue Airways (NASDAQ:JBLU) had its target price cut by Morgan Stanley from $17.00 to $16.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other equities research analysts have also commented on JBLU. Zacks Investment Research raised shares of JetBlue Airways from a sell rating to a hold rating and set a $13.00 price target for the company in a report on Friday, October 9th. Stifel Nicolaus upped their price objective on shares of JetBlue Airways from $11.00 to $12.00 and gave the company a hold rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised shares of JetBlue Airways from an underweight rating to an overweight rating and upped their price objective for the company from $12.00 to $17.00 in a report on Wednesday, October 7th. BidaskClub raised shares of JetBlue Airways from a sell rating to a hold rating in a research report on Saturday, September 5th. Finally, ValuEngine raised shares of JetBlue Airways from a buy rating to a strong-buy rating in a research report on Monday, August 3rd. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. JetBlue Airways currently has a consensus rating of Buy and an average price target of $15.14.

Shares of NASDAQ JBLU opened at $11.11 on Wednesday. The firm has a market cap of $3.03 billion, a PE ratio of -11.57 and a beta of 1.44. The firm has a fifty day moving average of $12.24 and a 200 day moving average of $10.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.93 and a current ratio of 0.95. JetBlue Airways has a one year low of $6.61 and a one year high of $21.65.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Saturday, October 31st. The transportation company reported ($1.75) EPS for the quarter, topping the consensus estimate of ($1.96) by $0.21. The company had revenue of $492.00 million during the quarter, compared to analyst estimates of $478.34 million. JetBlue Airways had a negative net margin of 4.05% and a negative return on equity of 7.24%. The firm’s revenue was down 76.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, equities analysts predict that JetBlue Airways will post -5.62 EPS for the current fiscal year.

In related news, insider Easwaran Sundaram sold 31,824 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $12.93, for a total transaction of $411,484.32. Following the sale, the insider now directly owns 113,918 shares in the company, valued at $1,472,959.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott M. Laurence sold 8,409 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $10.81, for a total transaction of $90,901.29. Following the sale, the insider now owns 2,957 shares in the company, valued at $31,965.17. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. purchased a new position in JetBlue Airways in the second quarter valued at approximately $27,000. Crewe Advisors LLC purchased a new position in JetBlue Airways in the third quarter valued at approximately $41,000. Global Retirement Partners LLC increased its stake in JetBlue Airways by 158.3% in the second quarter. Global Retirement Partners LLC now owns 4,650 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 2,850 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in JetBlue Airways by 42.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Kessler Investment Group LLC increased its stake in JetBlue Airways by 22.0% in the second quarter. Kessler Investment Group LLC now owns 6,100 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2019, the company operated a fleet of 63 Airbus A321 aircraft, 6 Airbus A321 neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 99 destinations in the 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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