JetBlue Airways (NASDAQ:JBLU) Shares Gap Down to $17.39

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Shares of JetBlue Airways Co. (NASDAQ:JBLU) gapped down prior to trading on Monday . The stock had previously closed at $17.97, but opened at $17.39. JetBlue Airways shares last traded at $16.86, with a volume of 5,629,030 shares traded.

Several research analysts recently weighed in on JBLU shares. Credit Suisse Group upped their price objective on shares of JetBlue Airways from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. TheStreet cut shares of JetBlue Airways from a “b” rating to a “c+” rating in a research report on Wednesday, August 28th. Susquehanna Bancshares began coverage on shares of JetBlue Airways in a research report on Tuesday, May 28th. They set a “positive” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday, September 2nd. Finally, Imperial Capital reiterated an “outperform” rating and set a $26.00 price target (up from $24.00) on shares of JetBlue Airways in a research report on Thursday, June 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. JetBlue Airways currently has an average rating of “Hold” and an average target price of $20.23.

The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $18.00 and its 200 day simple moving average is $17.83. The firm has a market capitalization of $5.08 billion, a P/E ratio of 10.88, a PEG ratio of 0.41 and a beta of 0.89.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. JetBlue Airways had a net margin of 5.53% and a return on equity of 11.35%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways Co. will post 1.95 earnings per share for the current year.

In other news, SVP Brandon Nelson sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $19.43, for a total value of $58,290.00. Following the transaction, the senior vice president now owns 4,429 shares in the company, valued at $86,055.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robin Hayes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $17.02, for a total transaction of $42,550.00. Following the completion of the transaction, the chief executive officer now owns 470,893 shares in the company, valued at approximately $8,014,598.86. The disclosure for this sale can be found here. Insiders sold 14,335 shares of company stock worth $268,395 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Several institutional investors have recently modified their holdings of JBLU. AJO LP grew its holdings in shares of JetBlue Airways by 121.9% in the first quarter. AJO LP now owns 6,676,381 shares of the transportation company’s stock worth $109,226,000 after purchasing an additional 3,667,010 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in JetBlue Airways by 251.2% in the first quarter. Thompson Siegel & Walmsley LLC now owns 4,041,171 shares of the transportation company’s stock worth $66,113,000 after acquiring an additional 2,890,530 shares during the period. Renaissance Technologies LLC lifted its stake in JetBlue Airways by 37.9% in the second quarter. Renaissance Technologies LLC now owns 8,464,904 shares of the transportation company’s stock worth $156,516,000 after acquiring an additional 2,325,600 shares during the period. Nuveen Asset Management LLC purchased a new stake in JetBlue Airways in the second quarter worth $21,295,000. Finally, Wafra Inc. purchased a new stake in JetBlue Airways in the second quarter worth $18,638,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About JetBlue Airways (NASDAQ:JBLU)

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.

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