Vetr Inc. Upgrades JetBlue Airways Corp. (JBLU) to “Strong-Buy”
JetBlue Airways Corp. (NASDAQ:JBLU) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm currently has a $19.52 target price on the stock. Vetr‘s price target would indicate a potential upside of 13.23% from the stock’s previous close.
Other research analysts have also issued reports about the company. Morgan Stanley restated a “hold” rating and set a $18.00 price target on shares of JetBlue Airways Corp. in a research report on Thursday, July 28th. Credit Suisse Group AG reiterated a “hold” rating on shares of JetBlue Airways Corp. in a report on Wednesday, May 25th. Barclays PLC reiterated an “overweight” rating on shares of JetBlue Airways Corp. in a report on Thursday, May 26th. Raymond James Financial Inc. reiterated an “outperform” rating on shares of JetBlue Airways Corp. in a report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. decreased their target price on JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.96.
JetBlue Airways Corp. (NASDAQ:JBLU) opened at 17.24 on Monday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 7.66 and a beta of 0.44. The stock has a 50 day moving average price of $16.64 and a 200-day moving average price of $18.21. JetBlue Airways Corp. has a one year low of $14.76 and a one year high of $27.09.
JetBlue Airways Corp. (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. The business earned $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that JetBlue Airways Corp. will post $2.18 earnings per share for the current fiscal year.
In related news, CEO Robin Hayes sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $16.18, for a total value of $80,900.00. Following the transaction, the chief executive officer now owns 359,881 shares in the company, valued at approximately $5,822,874.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joel Clinton Peterson sold 5,120 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $16.64, for a total value of $85,196.80. Following the completion of the transaction, the director now owns 610,013 shares in the company, valued at approximately $10,150,616.32. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its position in shares of JetBlue Airways Corp. by 22.6% in the second quarter. Acrospire Investment Management LLC now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares during the period. Exane Derivatives raised its stake in shares of JetBlue Airways Corp. by 173.3% in the second quarter. Exane Derivatives now owns 6,623 shares of the company’s stock worth $110,000 after buying an additional 4,200 shares in the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of JetBlue Airways Corp. during the second quarter worth $115,000. Advisor Group Inc. acquired a new stake in shares of JetBlue Airways Corp. during the second quarter worth $163,000. Finally, Advance Capital I Inc. acquired a new stake in shares of JetBlue Airways Corp. during the second quarter worth $167,000. Hedge funds and other institutional investors own 79.66% of the company’s stock.
JetBlue Airways Corp. Company Profile
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint.
To view Vetr’s full report, visit Vetr’s official website.
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