JetBlue Airways Corporation (NASDAQ:JBLU) was upgraded by equities researchers at Vetr from a "buy" rating to a "strong-buy" rating in a research report issued on Wednesday. The brokerage currently has a $20.58 price objective on the stock. Vetr's target price would indicate a potential upside of 12.52% from the stock's current price.
A number of hedge funds have modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of JetBlue Airways Corp. by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 23,771,021 shares of the company's stock valued at $538,414,000 after buying an additional 779,735 shares during the last quarter. State Street Corp (NYSE:STT) increased its stake in shares of JetBlue Airways Corp. by 3.3% in the first quarter. State Street Corp now owns 8,429,760 shares of the company's stock valued at $178,037,000 after buying an additional 271,565 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of JetBlue Airways Corp. by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 7,541,139 shares of the company's stock valued at $170,807,000 after buying an additional 59,462 shares during the last quarter. Acadian Asset Management LLC boosted its position in JetBlue Airways Corp. by 7.0% in the first quarter. Acadian Asset Management LLC now owns 5,976,301 shares of the company's stock worth $126,218,000 after buying an additional 388,800 shares during the period. Finally, Renaissance Technologies LLC boosted its position in JetBlue Airways Corp. by 21.9% in the first quarter. Renaissance Technologies LLC now owns 5,542,500 shares of the company's stock worth $117,058,000 after buying an additional 994,100 shares during the period.
Shares of JetBlue Airways Corp. (NASDAQ:JBLU) opened at 18.29 on Wednesday. JetBlue Airways Corp. has a 12 month low of $14.76 and a 12 month high of $27.36. The firm has a market capitalization of $5.89 billion and a price-to-earnings ratio of 8.46. The stock's 50 day moving average price is $17.19 and its 200-day moving average price is $19.58.
JetBlue Airways Corp. (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The company earned $1.60 billion during the quarter, compared to the consensus estimate of $1.62 billion. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, equities research analysts predict that JetBlue Airways Corp. will post $2.11 EPS for the current fiscal year.
In related news, CEO Robin Hayes sold 5,000 shares of the firm's stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $16.18, for a total transaction of $80,900.00. Following the sale, the chief executive officer now owns 359,881 shares of the company's stock, valued at approximately $5,822,874.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joel Clinton Peterson sold 5,120 shares of the firm's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $16.64, for a total value of $85,196.80. Following the sale, the director now directly owns 610,013 shares in the company, valued at approximately $10,150,616.32. The disclosure for this sale can be found here.
Other equities research analysts have also issued reports about the company. Deutsche Bank AG reiterated a "buy" rating on shares of JetBlue Airways Corp. in a research note on Saturday, April 9th. Cowen and Company upgraded JetBlue Airways Corp. from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a research report on Wednesday, April 27th. Credit Suisse Group AG restated a "hold" rating on shares of JetBlue Airways Corp. in a research report on Wednesday, May 25th. Barclays PLC restated an "overweight" rating on shares of JetBlue Airways Corp. in a research report on Thursday, May 26th. Finally, Sterne Agee CRT restated a "buy" rating on shares of JetBlue Airways Corp. in a research report on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of "Buy" and a consensus price target of $28.64.
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.