JetBlue Airways Corporation (NASDAQ:JBLU – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.54 and last traded at $6.4350, with a volume of 2555820 shares traded. The stock had previously closed at $6.23.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on JBLU shares. Bank of America raised their price target on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Wednesday, July 1st. UBS Group upped their price objective on JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group boosted their price objective on JetBlue Airways from $3.50 to $4.50 and gave the company a “sell” rating in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. Finally, Seaport Research Partners upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.54.
Read Our Latest Stock Report on JBLU
JetBlue Airways Stock Performance
JetBlue Airways (NASDAQ:JBLU – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. As a group, equities research analysts forecast that JetBlue Airways Corporation will post -2.33 EPS for the current fiscal year.
Insider Activity
In other news, Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director directly owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares of the company’s stock, valued at $1,215,930.24. The trade was a 26.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 111,253 shares of company stock worth $629,597 in the last ninety days. 2.41% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its holdings in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after buying an additional 3,373 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of JetBlue Airways during the 4th quarter worth about $30,000. Leonteq Securities AG acquired a new stake in JetBlue Airways during the 4th quarter worth $32,000. Finally, Essential Partners LLC boosted its stake in JetBlue Airways by 1,048.5% during the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock worth $32,000 after purchasing an additional 6,658 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.
JetBlue Airways Company Profile
JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.
The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.
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