JetBlue Airways (JBLU) Lowered to Sell at BidaskClub

BidaskClub cut shares of JetBlue Airways (NASDAQ:JBLU) from a hold rating to a sell rating in a report issued on Friday morning.

Several other brokerages have also commented on JBLU. ValuEngine upgraded JetBlue Airways from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Cowen restated a market perform rating and set a $24.00 target price (up previously from $22.00) on shares of JetBlue Airways in a research report on Tuesday, December 12th. Stifel Nicolaus restated a hold rating and set a $23.00 target price (up previously from $20.00) on shares of JetBlue Airways in a research report on Wednesday, January 10th. Bank of America lowered JetBlue Airways from a buy rating to an underperform rating and set a $22.00 target price on the stock. in a research report on Tuesday, January 9th. Finally, Stephens assumed coverage on JetBlue Airways in a research report on Wednesday, November 29th. They set an equal weight rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $24.09.

Shares of JetBlue Airways (JBLU) traded up $0.09 during mid-day trading on Friday, hitting $22.57. The stock had a trading volume of 3,150,000 shares, compared to its average volume of 4,490,000. The firm has a market capitalization of $7,270.00, a PE ratio of 11.52 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. JetBlue Airways has a 12 month low of $18.05 and a 12 month high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. JetBlue Airways had a return on equity of 17.47% and a net margin of 9.87%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. equities analysts forecast that JetBlue Airways will post 1.77 earnings per share for the current year.

JetBlue Airways declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 13th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other JetBlue Airways news, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $18.96, for a total value of $97,075.20. Following the transaction, the director now owns 539,702 shares in the company, valued at $10,232,749.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James G. Hnat sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $21.05, for a total value of $42,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,665 shares of company stock worth $412,388. Corporate insiders own 0.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in JetBlue Airways by 2.2% in the second quarter. FMR LLC now owns 19,075,077 shares of the transportation company’s stock worth $435,484,000 after acquiring an additional 404,086 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in JetBlue Airways by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 11,295,104 shares of the transportation company’s stock worth $209,297,000 after acquiring an additional 259,499 shares in the last quarter. State Street Corp boosted its holdings in JetBlue Airways by 0.5% in the second quarter. State Street Corp now owns 8,325,116 shares of the transportation company’s stock worth $190,058,000 after acquiring an additional 40,286 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in shares of JetBlue Airways by 5.1% in the third quarter. Donald Smith & CO. Inc. now owns 6,460,428 shares of the transportation company’s stock worth $119,712,000 after purchasing an additional 314,961 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of JetBlue Airways by 47.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock worth $118,251,000 after purchasing an additional 1,692,657 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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About JetBlue Airways

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.

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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