JetBlue Airways (NASDAQ:JBLU) Given New $19.00 Price Target at Cowen

JetBlue Airways (NASDAQ:JBLU) had its price objective cut by Cowen from $20.00 to $19.00 in a report published on Thursday morning, Briefing.com Automated Import reports. They currently have a market perform rating on the transportation company’s stock.

JBLU has been the subject of a number of other reports. ValuEngine lowered JetBlue Airways from a hold rating to a sell rating in a research report on Thursday, August 1st. Vertical Research upgraded JetBlue Airways from a hold rating to a buy rating and set a $17.98 price target on the stock in a research note on Friday, June 7th. Susquehanna Bancshares initiated coverage on JetBlue Airways in a research note on Tuesday, May 28th. They issued a positive rating and a $22.00 price objective on the stock. Zacks Investment Research upgraded JetBlue Airways from a hold rating to a buy rating and set a $18.00 price target on the stock in a research note on Monday, September 2nd. Finally, TheStreet cut JetBlue Airways from a b rating to a c+ rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. JetBlue Airways presently has an average rating of Hold and an average target price of $20.23.

Shares of JBLU stock traded up $0.23 on Thursday, hitting $17.39. The company had a trading volume of 3,384,415 shares, compared to its average volume of 4,510,740. The firm has a market cap of $5.08 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.89. The company has a 50-day moving average price of $18.18 and a 200-day moving average price of $17.83. The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. JetBlue Airways has a twelve month low of $15.19 and a twelve month high of $20.14.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. JetBlue Airways had a return on equity of 11.35% and a net margin of 5.53%. JetBlue Airways’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities research analysts expect that JetBlue Airways will post 1.95 EPS for the current year.

In other JetBlue Airways news, EVP George Martin J. St sold 1,500 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $18.25, for a total value of $27,375.00. Following the transaction, the executive vice president now owns 44,228 shares of the company’s stock, valued at $807,161. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brandon Nelson sold 3,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $19.43, for a total value of $58,290.00. Following the completion of the transaction, the senior vice president now directly owns 4,429 shares in the company, valued at approximately $86,055.47. The disclosure for this sale can be found here. In the last three months, insiders sold 14,335 shares of company stock worth $268,395. 0.79% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Executive Wealth Management LLC purchased a new stake in shares of JetBlue Airways during the second quarter worth about $37,000. Private Capital Group LLC grew its position in shares of JetBlue Airways by 130.2% during the second quarter. Private Capital Group LLC now owns 2,044 shares of the transportation company’s stock worth $39,000 after purchasing an additional 1,156 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in shares of JetBlue Airways by 81.4% during the second quarter. FinTrust Capital Advisors LLC now owns 2,422 shares of the transportation company’s stock worth $45,000 after purchasing an additional 1,087 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of JetBlue Airways during the second quarter worth about $59,000. Finally, Advisory Services Network LLC grew its position in shares of JetBlue Airways by 17.3% during the second quarter. Advisory Services Network LLC now owns 6,852 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,011 shares in the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.

Further Reading: Depreciation

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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