Bank of America cut shares of JetBlue Airways (NASDAQ:JBLU) from a buy rating to an underperform rating in a research report sent to investors on Tuesday, January 9th, Marketbeat Ratings reports. Bank of America currently has $22.00 price target on the transportation company’s stock.
JBLU has been the subject of several other reports. Deutsche Bank raised their target price on JetBlue Airways from $26.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, October 25th. ValuEngine raised JetBlue Airways from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. BidaskClub lowered JetBlue Airways from a hold rating to a sell rating in a research report on Friday, January 5th. Macquarie initiated coverage on JetBlue Airways in a report on Monday, September 25th. They issued a neutral rating and a $21.00 price objective for the company. Finally, Cowen lifted their price objective on JetBlue Airways from $21.00 to $22.00 and gave the stock a market perform rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $24.09.
JetBlue Airways (NASDAQ:JBLU) opened at $22.93 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. JetBlue Airways has a 52 week low of $18.05 and a 52 week high of $24.13. The firm has a market capitalization of $7,352.43, a price-to-earnings ratio of 11.82 and a beta of 0.68.
JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. JetBlue Airways had a return on equity of 15.95% and a net margin of 9.38%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $0.58 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. equities research analysts anticipate that JetBlue Airways will post 1.77 earnings per share for the current year.
JetBlue Airways declared that its board has authorized a share buyback plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other JetBlue Airways news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $22.47, for a total transaction of $44,940.00. Following the completion of the transaction, the chief executive officer now owns 396,535 shares of the company’s stock, valued at approximately $8,910,141.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Martin J. St sold 2,500 shares of JetBlue Airways stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $21.59, for a total value of $53,975.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,665 shares of company stock valued at $343,388 in the last ninety days. Insiders own 0.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Investment Centers of America Inc. bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $205,000. Keybank National Association OH bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $210,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $237,000. Cetera Advisors LLC bought a new stake in shares of JetBlue Airways during the 3rd quarter valued at about $199,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of JetBlue Airways by 82.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock valued at $232,000 after acquiring an additional 4,801 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/01/16/jetblue-airways-jblu-cut-to-underperform-at-bank-of-america.html.
JetBlue Airways Company Profile
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.
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.