JetBlue Airways Corporation (NASDAQ:JBLU) had its price target reduced by equities research analysts at Morgan Stanley from $24.00 to $23.00 in a report released on Thursday. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price indicates a potential upside of 5.46% from the stock’s current price.

A number of other brokerages have also weighed in on JBLU. Bank of America Corporation lifted their price target on shares of JetBlue Airways Corporation from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, June 30th. Buckingham Research downgraded shares of JetBlue Airways Corporation from a “buy” rating to a “neutral” rating and cut their target price for the company from $28.00 to $24.00 in a research note on Wednesday, July 26th. Vetr raised shares of JetBlue Airways Corporation from a “buy” rating to a “strong-buy” rating and set a $25.22 target price on the stock in a research note on Wednesday, April 26th. Cowen and Company raised their target price on shares of JetBlue Airways Corporation from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, April 26th. Finally, BidaskClub downgraded shares of JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.60.

JetBlue Airways Corporation (JBLU) traded down 4.6392% during mid-day trading on Thursday, hitting $20.7982. 3,247,980 shares of the stock traded hands. JetBlue Airways Corporation has a 12 month low of $15.70 and a 12 month high of $24.13. The stock’s 50 day moving average is $22.58 and its 200-day moving average is $21.44. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 10.5575 and a beta of 0.53.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. JetBlue Airways Corporation’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. On average, equities research analysts anticipate that JetBlue Airways Corporation will post $2.03 EPS for the current year.

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In related news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $22.87, for a total transaction of $45,740.00. Following the sale, the chief executive officer now owns 408,362 shares of the company’s stock, valued at approximately $9,339,238.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George Martin J. St sold 2,500 shares of JetBlue Airways Corporation stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $23.00, for a total transaction of $57,500.00. Following the sale, the executive vice president now directly owns 28,457 shares in the company, valued at approximately $654,511. The disclosure for this sale can be found here. Insiders have sold a total of 28,740 shares of company stock worth $646,976 in the last ninety days. 0.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in JetBlue Airways Corporation by 13,299.6% in 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. increased its stake in JetBlue Airways Corporation by 1,135.5% in 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. Dimensional Fund Advisors LP increased its stake in JetBlue Airways Corporation by 32.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,805,538 shares of the transportation company’s stock valued at $222,704,000 after buying an additional 2,632,973 shares during the period. Vanguard Group Inc. increased its stake in JetBlue Airways Corporation by 7.8% in 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. Finally, Macquarie Group Ltd. increased its stake in JetBlue Airways Corporation by 2,465.3% in 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. 85.81% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for JetBlue Airways Corporation (NASDAQ:JBLU)

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