JetBlue Airways (NASDAQ:JBLU) PT Lowered to $28.00

JetBlue Airways (NASDAQ:JBLU) had its price objective cut by Morgan Stanley from $30.00 to $28.00 in a report released on Tuesday, Price Targets.com reports. They currently have an overweight rating on the transportation company’s stock.

Other equities analysts have also issued research reports about the stock. MKM Partners started coverage on shares of JetBlue Airways in a report on Thursday, June 10th. They set a neutral rating and a $21.00 price target on the stock. Raymond James cut their target price on JetBlue Airways from $24.00 to $20.00 and set an outperform rating on the stock in a report on Wednesday, July 21st. Susquehanna Bancshares decreased their price target on JetBlue Airways from $24.00 to $21.00 and set a positive rating for the company in a research note on Wednesday, July 28th. Finally, Susquehanna cut their price objective on JetBlue Airways from $24.00 to $21.00 and set a positive rating on the stock in a research note on Wednesday, July 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $19.79.

JetBlue Airways stock opened at $14.86 on Tuesday. The stock has a 50-day moving average price of $15.21 and a two-hundred day moving average price of $17.93. JetBlue Airways has a 12 month low of $10.93 and a 12 month high of $21.96. The company has a market capitalization of $4.73 billion, a PE ratio of -4.42 and a beta of 1.62. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Monday, July 26th. The transportation company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.09. JetBlue Airways had a negative net margin of 28.27% and a negative return on equity of 41.70%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business earned ($2.02) EPS. The firm’s quarterly revenue was up 597.2% on a year-over-year basis. As a group, analysts predict that JetBlue Airways will post -2.13 earnings per share for the current fiscal year.

In other news, insider Scott M. Laurence sold 1,789 shares of JetBlue Airways stock in a transaction on Friday, June 25th. The shares were sold at an average price of $17.38, for a total value of $31,092.82. Following the completion of the sale, the insider now owns 2,710 shares in the company, valued at approximately $47,099.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 5,789 shares of company stock valued at $91,833. Insiders own 0.61% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its holdings in shares of JetBlue Airways by 11.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,407,976 shares of the transportation company’s stock worth $23,626,000 after purchasing an additional 144,550 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in JetBlue Airways during the second quarter worth $359,000. Morgan Stanley lifted its stake in shares of JetBlue Airways by 97.7% in the second quarter. Morgan Stanley now owns 3,561,483 shares of the transportation company’s stock valued at $59,761,000 after buying an additional 1,760,210 shares in the last quarter. Meitav Dash Investments Ltd. grew its holdings in shares of JetBlue Airways by 6.4% during the second quarter. Meitav Dash Investments Ltd. now owns 19,900 shares of the transportation company’s stock valued at $333,000 after buying an additional 1,200 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its position in shares of JetBlue Airways by 2,500.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 5,200 shares of the transportation company’s stock worth $87,000 after acquiring an additional 5,000 shares in the last quarter. 76.23% of the stock is owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and most legroom.

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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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