JetBlue Airways Corp. (JBLU) Raised to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of JetBlue Airways Corp. (NASDAQ:JBLU) from a buy rating to a strong-buy rating in a research note published on Tuesday morning. Vetr currently has $20.12 price objective on the stock.
A number of other research analysts also recently issued reports on JBLU. Cowen and Company reaffirmed a buy rating and set a $23.00 price target on shares of JetBlue Airways Corp. in a report on Monday, June 13th. Raymond James Financial Inc. reaffirmed an outperform rating on shares of JetBlue Airways Corp. in a report on Wednesday, June 15th. Zacks Investment Research downgraded JetBlue Airways Corp. from a hold rating to a strong sell rating in a report on Thursday, June 16th. Credit Suisse Group AG reaffirmed an underweight rating on shares of JetBlue Airways Corp. in a report on Saturday, June 25th. Finally, JPMorgan Chase & Co. lowered their target price on JetBlue Airways Corp. from $24.50 to $21.00 and set a neutral rating on the stock in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $23.51.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded down 0.34% during trading on Tuesday, reaching $17.56. The company’s stock had a trading volume of 379,229 shares. JetBlue Airways Corp. has a one year low of $14.76 and a one year high of $27.09. The firm has a market cap of $5.68 billion, a P/E ratio of 7.80 and a beta of 0.36. The stock’s 50 day moving average is $16.78 and its 200 day moving average is $18.00.
JetBlue Airways Corp. (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. On average, equities analysts forecast that JetBlue Airways Corp. will post $2.19 EPS for the current fiscal year.
In related news, EVP James G. Hnat sold 10,000 shares of the stock in a transaction dated 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 this link. Also, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction dated Monday, August 1st. The stock was 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. 0.70% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in JetBlue Airways Corp. during the fourth quarter valued at about $33,966,000. Glenmede Trust Co. NA boosted its stake in JetBlue Airways Corp. by 2.4% in the first quarter. Glenmede Trust Co. NA now owns 60,832 shares of the company’s stock valued at $1,283,000 after buying an additional 1,433 shares in the last quarter. Teachers Advisors Inc. boosted its stake in JetBlue Airways Corp. by 2.5% in the first quarter. Teachers Advisors Inc. now owns 560,799 shares of the company’s stock valued at $11,844,000 after buying an additional 13,626 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in JetBlue Airways Corp. by 2.0% in the first quarter. Stratos Wealth Partners LTD. now owns 11,481 shares of the company’s stock valued at $242,000 after buying an additional 220 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its stake in JetBlue Airways Corp. by 90.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 295,431 shares of the company’s stock valued at $6,240,000 after buying an additional 140,539 shares in the last quarter. Hedge funds and other 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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