JetBlue Airways (NASDAQ:JBLU) had its price target reduced by equities researchers at Barclays from $23.00 to $16.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective points to a potential upside of 40.91% from the stock’s previous close.
Other analysts also recently issued reports about the company. UBS Group downgraded JetBlue Airways from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $12.00 in a research note on Friday, March 13th. ValuEngine upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 17th. Buckingham Research downgraded JetBlue Airways from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $15.00 in a research note on Thursday, February 27th. BidaskClub downgraded JetBlue Airways from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Bank of America cut their target price on JetBlue Airways from $15.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.06.
Shares of JetBlue Airways stock traded up $0.02 during midday trading on Thursday, hitting $11.36. The company had a trading volume of 11,738,060 shares, compared to its average volume of 16,223,674. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.67. The stock has a market capitalization of $2.65 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.74 and a beta of 0.99. The company has a 50 day moving average of $15.87 and a 200 day moving average of $17.83. JetBlue Airways has a 52-week low of $6.61 and a 52-week high of $21.65.
JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. JetBlue Airways had a return on equity of 12.06% and a net margin of 7.03%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. Equities research analysts forecast that JetBlue Airways will post 0.57 EPS for the current year.
In related news, CFO Stephen J. Priest sold 1,927 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $20.01, for a total value of $38,559.27. Following the transaction, the chief financial officer now directly owns 19,545 shares of the company’s stock, valued at approximately $391,095.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joanna Geraghty sold 12,655 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $14.98, for a total value of $189,571.90. Following the completion of the transaction, the chief operating officer now directly owns 176,353 shares in the company, valued at $2,641,767.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,413 shares of company stock worth $388,329. 0.79% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S bought a new position in JetBlue Airways in the 4th quarter worth $2,937,000. Franklin Resources Inc. raised its holdings in JetBlue Airways by 60.2% in the 4th quarter. Franklin Resources Inc. now owns 500,478 shares of the transportation company’s stock worth $9,369,000 after purchasing an additional 188,041 shares during the period. Norges Bank bought a new position in JetBlue Airways in the 4th quarter worth $44,347,000. Geode Capital Management LLC raised its holdings in JetBlue Airways by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,865,436 shares of the transportation company’s stock valued at $72,360,000 after acquiring an additional 132,056 shares during the period. Finally, Covington Capital Management raised its holdings in JetBlue Airways by 139.6% during the fourth quarter. Covington Capital Management now owns 4,791 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 2,791 shares during the period. 96.87% of the stock is currently owned by institutional investors.
About JetBlue Airways
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.
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