Morgan Stanley Reiterates $20.00 Price Target for JetBlue Airways (JBLU)

Morgan Stanley set a $20.00 price target on JetBlue Airways (NASDAQ:JBLU) in a report released on Friday. The brokerage currently has a hold rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. BidaskClub cut JetBlue Airways from a hold rating to a sell rating in a research report on Friday. Bank of America set a $16.00 price objective on JetBlue Airways and gave the company a sell rating in a research report on Wednesday, October 3rd. Citigroup upped their target price on JetBlue Airways from $21.50 to $22.00 and gave the company a neutral rating in a research note on Wednesday, October 3rd. Imperial Capital upped their target price on JetBlue Airways from $24.00 to $26.00 and gave the company an outperform rating in a research note on Thursday, September 27th. Finally, Zacks Investment Research upgraded JetBlue Airways from a sell rating to a hold rating in a research note on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $22.00.

JBLU opened at $18.10 on Friday. JetBlue Airways has a 1-year low of $17.10 and a 1-year high of $23.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.59 and a quick ratio of 0.56. The company has a market capitalization of $6.06 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 24th. The transportation company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. JetBlue Airways had a return on equity of 10.80% and a net margin of 11.30%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the business earned $0.64 earnings per share. JetBlue Airways’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that JetBlue Airways will post 1.48 EPS for the current year.

In related news, EVP James G. Hnat sold 6,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $19.30, for a total value of $115,800.00. Following the completion of the transaction, the executive vice president now directly owns 3,437 shares in the company, valued at $66,334.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $17.97, for a total value of $35,940.00. Following the completion of the transaction, the chief executive officer now owns 438,803 shares of the company’s stock, valued at $7,885,289.91. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock valued at $248,150 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in JBLU. Wells Fargo & Company MN raised its stake in JetBlue Airways by 5.8% during the first quarter. Wells Fargo & Company MN now owns 504,533 shares of the transportation company’s stock worth $10,253,000 after acquiring an additional 27,594 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in JetBlue Airways by 60.7% during the first quarter. Envestnet Asset Management Inc. now owns 13,622 shares of the transportation company’s stock worth $277,000 after acquiring an additional 5,146 shares in the last quarter. New York State Common Retirement Fund raised its stake in JetBlue Airways by 4.0% during the first quarter. New York State Common Retirement Fund now owns 1,003,963 shares of the transportation company’s stock worth $20,401,000 after acquiring an additional 38,899 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in JetBlue Airways by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 152,904 shares of the transportation company’s stock worth $3,107,000 after acquiring an additional 2,800 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in JetBlue Airways by 5.4% during the first quarter. California Public Employees Retirement System now owns 920,625 shares of the transportation company’s stock worth $18,707,000 after acquiring an additional 46,904 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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