JetBlue Airways Corporation (JBLU) Shares Gap Up to $19.49

JetBlue Airways Corporation (NASDAQ:JBLU) gapped up before the market opened on Tuesday . The stock had previously closed at $18.97, but opened at $19.49. JetBlue Airways Corporation shares last traded at $20.23, with a volume of 11,087,153 shares.

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of JetBlue Airways Corporation from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th. Standpoint Research reaffirmed a “buy” rating on shares of JetBlue Airways Corporation in a research note on Sunday, September 3rd. BidaskClub downgraded shares of JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised shares of JetBlue Airways Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Cowen and Company lifted their price target on shares of JetBlue Airways Corporation from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. JetBlue Airways Corporation presently has an average rating of “Hold” and an average price target of $25.25.

The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 10.42 and a beta of 0.59. The company’s 50-day moving average is $19.28 and its 200-day moving average is $21.33.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, equities research analysts anticipate that JetBlue Airways Corporation will post $1.83 earnings per share for the current fiscal year.

In related news, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $22.00, for a total transaction of $112,640.00. Following the completion of the sale, the director now owns 555,062 shares in the company, valued at approximately $12,211,364. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.03, for a total transaction of $44,060.00. Following the sale, the chief executive officer now owns 406,362 shares of the company’s stock, valued at approximately $8,952,154.86. The disclosure for this sale can be found here. Insiders have sold a total of 31,860 shares of company stock valued at $646,973 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in JBLU. World Asset Management Inc grew its holdings in JetBlue Airways Corporation by 0.7% during the 2nd quarter. World Asset Management Inc now owns 22,526 shares of the transportation company’s stock worth $514,000 after acquiring an additional 155 shares during the last quarter. M&T Bank Corp grew its holdings in JetBlue Airways Corporation by 0.9% during the 2nd quarter. M&T Bank Corp now owns 19,383 shares of the transportation company’s stock worth $442,000 after acquiring an additional 181 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in JetBlue Airways Corporation by 2.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,497 shares of the transportation company’s stock worth $240,000 after acquiring an additional 283 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in JetBlue Airways Corporation by 2.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,310 shares of the transportation company’s stock worth $258,000 after acquiring an additional 310 shares during the last quarter. Finally, Capstone Asset Management Co. grew its holdings in JetBlue Airways Corporation by 1.1% during the 2nd quarter. Capstone Asset Management Co. now owns 33,135 shares of the transportation company’s stock worth $756,000 after acquiring an additional 360 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

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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.

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