JetBlue Airways Corporation (NASDAQ:JBLU) shares fell 6.1% on Thursday after Morgan Stanley lowered their price target on the stock from $24.00 to $23.00. Morgan Stanley currently has an equal weight rating on the stock. JetBlue Airways Corporation traded as low as $20.48 and last traded at $20.49, with a volume of 5,833,817 shares trading hands. The stock had previously closed at $21.81.

Other research analysts also recently issued reports about the company. BidaskClub downgraded JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target on shares of JetBlue Airways Corporation in a research note on Friday, May 26th. Imperial Capital restated an “outperform” rating on shares of JetBlue Airways Corporation in a research note on Friday, May 19th. Vetr upgraded JetBlue Airways Corporation from a “buy” rating to a “strong-buy” rating and set a $25.22 price target for the company in a research note on Wednesday, April 26th. Finally, Zacks Investment Research upgraded JetBlue Airways Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.60.

In related news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $22.87, for a total transaction of $45,740.00. Following the completion of the sale, the chief executive officer now directly owns 408,362 shares of the company’s stock, valued at approximately $9,339,238.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of JetBlue Airways Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $23.13, for a total value of $118,425.60. Following the sale, the director now directly owns 560,182 shares of the company’s stock, valued at $12,957,009.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,740 shares of company stock valued at $646,976. 0.60% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in JBLU. Quantbot Technologies LP purchased a new stake in JetBlue Airways Corporation during the first quarter valued at $138,000. Americafirst Capital Management LLC purchased a new stake in JetBlue Airways Corporation during the first quarter valued at $141,000. James Investment Research Inc. purchased a new stake in JetBlue Airways Corporation during the first quarter valued at $150,000. Kistler Tiffany Companies LLC purchased a new stake in JetBlue Airways Corporation during the first quarter valued at $155,000. Finally, CENTRAL TRUST Co purchased a new stake in JetBlue Airways Corporation during the second quarter valued at $162,000. 85.81% of the stock is owned by institutional investors and hedge funds.

The firm has a 50 day moving average of $22.58 and a 200-day moving average of $21.44. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 10.40 and a beta of 0.53.

JetBlue Airways Corporation (NASDAQ:JBLU) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities analysts predict that JetBlue Airways Corporation will post $2.03 earnings per share for the current year.

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About JetBlue Airways Corporation

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

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