Morgan Stanley Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $16.00

JetBlue Airways (NASDAQ:JBLU) had its price target dropped by analysts at Morgan Stanley from $17.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price target indicates a potential upside of 38.41% from the stock’s current price.

Several other equities analysts have also recently weighed in on JBLU. BidaskClub raised JetBlue Airways from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Stifel Nicolaus increased their price target on JetBlue Airways from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised JetBlue Airways from an “underweight” rating to an “overweight” rating and increased their price target for the company from $12.00 to $17.00 in a report on Wednesday, October 7th. ValuEngine raised JetBlue Airways from a “buy” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, TheStreet cut JetBlue Airways from a “c-” rating to a “d” rating in a report on Tuesday, July 28th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.14.

Shares of JBLU opened at $11.56 on Wednesday. The business’s fifty day simple moving average is $12.21 and its two-hundred day simple moving average is $10.89. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.84. JetBlue Airways has a 12 month low of $6.61 and a 12 month high of $21.65. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -12.04 and a beta of 1.44.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Sunday, November 1st. The transportation company reported ($1.75) EPS for the quarter, beating the consensus estimate of ($1.96) by $0.21. JetBlue Airways had a negative return on equity of 7.24% and a negative net margin of 4.05%. The business had revenue of $492.00 million for the quarter, compared to the consensus estimate of $478.34 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was down 76.4% compared to the same quarter last year. As a group, research analysts forecast that JetBlue Airways will post -5.62 EPS for the current year.

In other news, insider Scott M. Laurence sold 8,409 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $10.81, for a total transaction of $90,901.29. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $31,965.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Easwaran Sundaram sold 31,824 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $12.93, for a total value of $411,484.32. Following the transaction, the insider now owns 113,918 shares of the company’s stock, valued at approximately $1,472,959.74. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. purchased a new position in JetBlue Airways in the second quarter worth about $27,000. Crewe Advisors LLC purchased a new position in shares of JetBlue Airways during the third quarter valued at approximately $41,000. Global Retirement Partners LLC boosted its position in shares of JetBlue Airways by 158.3% during the second quarter. Global Retirement Partners LLC now owns 4,650 shares of the transportation company’s stock valued at $51,000 after buying an additional 2,850 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of JetBlue Airways by 42.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 4,700 shares of the transportation company’s stock valued at $51,000 after buying an additional 1,403 shares during the period. Finally, Kessler Investment Group LLC boosted its position in shares of JetBlue Airways by 22.0% during the second quarter. Kessler Investment Group LLC now owns 6,100 shares of the transportation company’s stock valued at $66,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 76.59% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2019, the company operated a fleet of 63 Airbus A321 aircraft, 6 Airbus A321 neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 99 destinations in the 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

Further Reading: Forex

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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