JetBlue Airways (NASDAQ:JBLU) Sees Large Volume Increase

JetBlue Airways Co. (NASDAQ:JBLU) saw strong trading volume on Wednesday . 12,862,600 shares traded hands during mid-day trading, an increase of 181% from the previous session’s volume of 4,581,711 shares.The stock last traded at $19.32 and had previously closed at $18.80.

A number of equities analysts have weighed in on the company. ValuEngine upgraded JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Thursday, October 31st. Cowen reduced their target price on JetBlue Airways from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Thursday, September 12th. UBS Group initiated coverage on JetBlue Airways in a research note on Tuesday, November 12th. They set a “buy” rating and a $25.00 target price for the company. JPMorgan Chase & Co. upgraded JetBlue Airways from a “neutral” rating to an “overweight” rating and increased their target price for the company from $23.00 to $24.00 in a research note on Monday, October 28th. Finally, BidaskClub upgraded JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.36.

The company has a market capitalization of $5.55 billion, a PE ratio of 12.46, a PEG ratio of 0.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.50 and a current ratio of 0.53. The company has a 50 day moving average price of $18.95 and a 200 day moving average price of $18.26.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. JetBlue Airways had a return on equity of 12.03% and a net margin of 7.19%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts forecast that JetBlue Airways Co. will post 1.93 earnings per share for the current fiscal year.

In related news, CFO Stephen J. Priest sold 1,810 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $19.28, for a total transaction of $34,896.80. Following the transaction, the chief financial officer now directly owns 21,850 shares in the company, valued at $421,268. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robin Hayes sold 2,500 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $16.62, for a total value of $41,550.00. Following the transaction, the chief executive officer now owns 468,393 shares in the company, valued at $7,784,691.66. The disclosure for this sale can be found here. Insiders have sold 12,810 shares of company stock worth $235,607 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its holdings in JetBlue Airways by 14.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 686,899 shares of the transportation company’s stock worth $11,237,000 after acquiring an additional 88,089 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in JetBlue Airways during the 2nd quarter worth about $59,000. Bailard Inc. acquired a new stake in JetBlue Airways during the 2nd quarter worth about $296,000. SG Americas Securities LLC boosted its position in JetBlue Airways by 69.7% during the 2nd quarter. SG Americas Securities LLC now owns 53,612 shares of the transportation company’s stock worth $991,000 after acquiring an additional 22,012 shares during the period. Finally, Barnett & Company Inc. boosted its position in JetBlue Airways by 7.7% during the 2nd quarter. Barnett & Company Inc. now owns 46,360 shares of the transportation company’s stock worth $857,000 after acquiring an additional 3,300 shares during the period. 96.28% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Cost of Goods Sold (COGS)

Receive News & Ratings for JetBlue Airways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JetBlue Airways and related companies with MarketBeat.com's FREE daily email newsletter.