Morgan Stanley Trims JetBlue Airways (NASDAQ:JBLU) Target Price to $23.00

JetBlue Airways (NASDAQ:JBLU) had its target price trimmed by Morgan Stanley from $28.00 to $23.00 in a report issued on Tuesday morning, Price Targets.com reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other brokerages have also issued reports on JBLU. The Goldman Sachs Group lowered JetBlue Airways from a buy rating to a neutral rating and cut their price target for the company from $20.00 to $17.00 in a research note on Wednesday, October 6th. Raymond James cut their price target on JetBlue Airways from $20.00 to $19.50 and set an outperform rating on the stock in a research note on Monday, November 29th. Exane BNP Paribas raised JetBlue Airways from an underperform rating to a neutral rating and set a $17.00 price target on the stock in a research note on Wednesday, November 17th. MKM Partners lowered JetBlue Airways from a neutral rating to a sell rating and set a $13.00 price target on the stock. in a research note on Monday, January 3rd. Finally, BNP Paribas raised JetBlue Airways from an underperform rating to a neutral rating and set a $17.00 price target on the stock in a research note on Wednesday, November 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.29.

Shares of NASDAQ:JBLU opened at $14.85 on Tuesday. The business’s fifty day moving average price is $14.48 and its two-hundred day moving average price is $15.04. JetBlue Airways has a fifty-two week low of $12.86 and a fifty-two week high of $21.96. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.95.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Monday, October 25th. The transportation company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. JetBlue Airways had a negative return on equity of 29.71% and a negative net margin of 8.92%. The business’s revenue was up 300.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.75) earnings per share. Sell-side analysts predict that JetBlue Airways will post -2.63 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in JetBlue Airways in the third quarter valued at about $31,000. Herold Advisors Inc. bought a new stake in shares of JetBlue Airways in the third quarter worth about $32,000. West Branch Capital LLC bought a new stake in shares of JetBlue Airways in the second quarter worth about $39,000. Activest Wealth Management bought a new stake in shares of JetBlue Airways in the second quarter worth about $57,000. Finally, Dark Forest Capital Management LP increased its holdings in shares of JetBlue Airways by 4,859.2% in the third quarter. Dark Forest Capital Management LP now owns 3,521 shares of the transportation company’s stock worth $54,000 after acquiring an additional 3,450 shares in the last quarter. 76.21% of the stock is currently owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and most legroom.

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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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