Cowen and Company Raises JetBlue Airways Corporation (JBLU) Price Target to $22.00
JetBlue Airways Corporation (NASDAQ:JBLU) had its price objective upped by Cowen and Company from $21.00 to $22.00 in a report published on Thursday, MarketBeat reports. They currently have a market perform rating on the transportation company’s stock.
JBLU has been the subject of a number of other reports. Morgan Stanley decreased their target price on JetBlue Airways Corporation from $24.00 to $23.00 and set an equal weight rating for the company in a research report on Thursday, August 17th. Standpoint Research reissued a buy rating on shares of JetBlue Airways Corporation in a research report on Sunday, September 3rd. BidaskClub downgraded JetBlue Airways Corporation from a hold rating to a sell rating in a research report on Friday, August 4th. Zacks Investment Research raised JetBlue Airways Corporation from a hold rating to a buy rating and set a $26.00 target price for the company in a research report on Wednesday, July 12th. Finally, ValuEngine raised JetBlue Airways Corporation from a buy rating to a strong-buy rating in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $25.25.
JetBlue Airways Corporation (NASDAQ JBLU) traded up 0.15% during mid-day trading on Thursday, reaching $20.37. The company had a trading volume of 8,651,335 shares. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 10.39 and a beta of 0.59. The stock has a 50-day moving average of $19.31 and a 200 day moving average of $21.33. JetBlue Airways Corporation has a 12-month low of $16.85 and a 12-month high of $24.13.
JetBlue Airways Corporation (NASDAQ:JBLU) last released its earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect that JetBlue Airways Corporation will post $1.80 EPS for the current year.
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In related news, Director Joel Clinton Peterson sold 5,120 shares of JetBlue Airways Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.00, for a total transaction of $112,640.00. Following the completion of the sale, the director now owns 555,062 shares of the company’s stock, valued at $12,211,364. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robin Hayes sold 2,000 shares of JetBlue Airways Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $22.03, for a total value of $44,060.00. Following the sale, the chief executive officer now directly owns 406,362 shares of the company’s stock, valued at approximately $8,952,154.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,860 shares of company stock valued at $646,973. 0.60% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of JBLU. BlackRock Inc. boosted its stake in JetBlue Airways Corporation by 13,299.6% during the first quarter. BlackRock Inc. now owns 27,408,463 shares of the transportation company’s stock valued at $564,889,000 after buying an additional 27,203,916 shares during the period. Alliancebernstein L.P. boosted its stake in JetBlue Airways Corporation by 1,135.5% during the second quarter. Alliancebernstein L.P. now owns 2,927,591 shares of the transportation company’s stock valued at $66,837,000 after buying an additional 2,690,638 shares during the period. Vanguard Group Inc. boosted its stake in JetBlue Airways Corporation by 7.8% during the first quarter. Vanguard Group Inc. now owns 28,930,739 shares of the transportation company’s stock valued at $596,262,000 after buying an additional 2,085,912 shares during the period. Macquarie Group Ltd. boosted its stake in JetBlue Airways Corporation by 2,465.3% during the first quarter. Macquarie Group Ltd. now owns 1,775,200 shares of the transportation company’s stock valued at $36,587,000 after buying an additional 1,706,000 shares during the period. Finally, Prudential Financial Inc. boosted its stake in JetBlue Airways Corporation by 135.1% during the second quarter. Prudential Financial Inc. now owns 2,454,990 shares of the transportation company’s stock valued at $56,048,000 after buying an additional 1,410,594 shares during the period. 84.48% of the stock is owned by institutional investors.
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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