Morgan Stanley Increases JetBlue Airways (NASDAQ:JBLU) Price Target to $30.00

JetBlue Airways (NASDAQ:JBLU) had its price objective hoisted by investment analysts at Morgan Stanley from $18.00 to $30.00 in a report released on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price target indicates a potential upside of 42.52% from the company’s previous close.

A number of other equities research analysts also recently commented on JBLU. The Goldman Sachs Group lifted their target price on JetBlue Airways from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, March 16th. Susquehanna Bancshares lifted their target price on JetBlue Airways from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, January 14th. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Monday, March 1st. Bank of America raised JetBlue Airways from a “neutral” rating to a “buy” rating in a report on Friday, January 8th. Finally, Vertical Research downgraded JetBlue Airways from a “buy” rating to a “hold” rating in a report on Friday, January 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.62.

Shares of NASDAQ JBLU opened at $21.05 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 1.23. The company has a market cap of $6.67 billion, a PE ratio of -6.95 and a beta of 1.57. The business has a 50-day simple moving average of $19.46 and a two-hundred day simple moving average of $15.39. JetBlue Airways has a fifty-two week low of $7.34 and a fifty-two week high of $21.96.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Wednesday, January 27th. The transportation company reported ($1.53) earnings per share for the quarter, topping the consensus estimate of ($1.69) by $0.16. JetBlue Airways had a negative return on equity of 23.07% and a negative net margin of 18.95%. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $635.33 million. During the same quarter last year, the company earned $0.56 earnings per share. The company’s quarterly revenue was down 67.5% on a year-over-year basis. On average, sell-side analysts predict that JetBlue Airways will post -5.88 earnings per share for the current fiscal year.

In other news, CFO Stephen J. Priest sold 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $18.63, for a total value of $100,602.00. Following the completion of the sale, the chief financial officer now directly owns 54,939 shares in the company, valued at $1,023,513.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brandon Nelson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $19.31, for a total value of $96,550.00. Following the completion of the sale, the general counsel now owns 6,811 shares of the company’s stock, valued at $131,520.41. The disclosure for this sale can be found here. Insiders sold 13,965 shares of company stock valued at $262,562 over the last 90 days. Company insiders own 0.93% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tompkins Financial Corp purchased a new stake in shares of JetBlue Airways during the fourth quarter worth approximately $25,000. CWM LLC increased its position in shares of JetBlue Airways by 61.6% during the fourth quarter. CWM LLC now owns 1,931 shares of the transportation company’s stock worth $28,000 after purchasing an additional 736 shares in the last quarter. Parallel Advisors LLC increased its position in shares of JetBlue Airways by 284.2% during the fourth quarter. Parallel Advisors LLC now owns 1,944 shares of the transportation company’s stock worth $28,000 after purchasing an additional 1,438 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of JetBlue Airways during the fourth quarter worth approximately $29,000. Finally, IFP Advisors Inc increased its position in shares of JetBlue Airways by 159.2% during the fourth quarter. IFP Advisors Inc now owns 5,015 shares of the transportation company’s stock worth $70,000 after purchasing an additional 3,080 shares in the last quarter. Hedge funds and other institutional investors own 66.67% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2020, the company operated a fleet of 63 Airbus A321 aircraft, 1 Airbus A220 aircraft, 13 Airbus A321 neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 98 destinations in the 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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