JetBlue Airways Corp. (NASDAQ:JBLU)’s share price dropped 2.9% during trading on Friday . The stock traded as low as $16.15 and last traded at $16.16, with a volume of 6,720,874 shares trading hands. The stock had previously closed at $16.65.

JBLU has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. Vetr upgraded JetBlue Airways Corp. from a “buy” rating to a “strong-buy” rating and set a $20.58 price objective on the stock in a report on Wednesday, July 20th. Credit Suisse Group AG reiterated an “underweight” rating on shares of JetBlue Airways Corp. in a report on Saturday, June 25th. Cowen and Company reiterated a “buy” rating and issued a $23.00 price objective on shares of JetBlue Airways Corp. in a report on Monday, June 13th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating on shares of JetBlue Airways Corp. in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $27.40.

The firm has a market cap of $5.23 billion and a price-to-earnings ratio of 7.18. The company’s 50-day moving average price is $17.44 and its 200-day moving average price is $19.01.

JetBlue Airways Corp. (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. JetBlue Airways Corp.’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. Analysts forecast that JetBlue Airways Corp. will post $2.16 earnings per share for the current year.

In related news, Director Joel Clinton Peterson sold 5,121 shares of JetBlue Airways Corp. stock in a transaction on Monday, June 6th. The stock was sold at an average price of $17.84, for a total value of $91,358.64. Following the transaction, the director now owns 615,133 shares in the company, valued at $10,973,972.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robin Hayes sold 5,000 shares of JetBlue Airways Corp. stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $16.18, for a total value of $80,900.00. Following the completion of the transaction, the chief executive officer now owns 359,881 shares in the company, valued at approximately $5,822,874.58. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of JBLU. Advisors Asset Management Inc. boosted its position in shares of JetBlue Airways Corp. by 26.4% in the fourth quarter. Advisors Asset Management Inc. now owns 47,916 shares of the company’s stock worth $1,085,000 after buying an additional 9,999 shares during the last quarter. Airain ltd purchased a new position in shares of JetBlue Airways Corp. during the fourth quarter worth $4,162,000. Schwab Charles Investment Management Inc. boosted its position in shares of JetBlue Airways Corp. by 10.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 744,089 shares of the company’s stock worth $16,854,000 after buying an additional 69,519 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of JetBlue Airways Corp. by 520.1% in the fourth quarter. State of Tennessee Treasury Department now owns 930,191 shares of the company’s stock worth $21,069,000 after buying an additional 780,191 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of JetBlue Airways Corp. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,030,981 shares of the company’s stock worth $23,351,000 after buying an additional 29,388 shares during the last quarter.

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.

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