JetBlue Airways (NASDAQ:JBLU) Lowered to Underperform at Bank of America

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.com reports. Bank of America currently has $22.00 target price on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank lifted their target price on shares of JetBlue Airways from $26.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, October 25th. Imperial Capital reiterated a buy rating and issued a $31.00 target price on shares of JetBlue Airways in a report on Tuesday, October 17th. Morgan Stanley restated an equal weight rating and set a $20.00 price objective (down previously from $21.00) on shares of JetBlue Airways in a report on Wednesday, October 4th. Stephens began coverage on shares of JetBlue Airways in a report on Wednesday, November 29th. They set an equal weight rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of JetBlue Airways from a strong sell rating to a hold rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $24.32.

Shares of JetBlue Airways (NASDAQ:JBLU) traded up $0.21 on Tuesday, reaching $20.86. 5,330,000 shares of the company traded hands, compared to its average volume of 4,950,000. The company has a market cap of $6,690.00, a P/E ratio of 5.94 and a beta of 0.68. JetBlue Airways has a 12-month low of $18.05 and a 12-month high of $24.13. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. equities research analysts forecast that JetBlue Airways will post 1.88 EPS for the current year.

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

In other news, EVP James G. Hnat sold 2,000 shares of JetBlue Airways stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $21.05, for a total transaction of $42,100.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George Martin J. St sold 3,000 shares of JetBlue Airways stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,545 shares of company stock worth $296,363. Insiders own 0.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of JetBlue Airways by 8.8% during the 3rd quarter. Legal & General Group Plc now owns 260,874 shares of the transportation company’s stock valued at $4,834,000 after acquiring an additional 21,209 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in shares of JetBlue Airways by 50.9% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 68,200 shares of the transportation company’s stock valued at $1,523,000 after acquiring an additional 23,000 shares in the last quarter. Palisade Capital Management LLC NJ boosted its position in shares of JetBlue Airways by 34.4% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 21,500 shares of the transportation company’s stock valued at $398,000 after acquiring an additional 5,500 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of JetBlue Airways by 47.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock valued at $118,251,000 after acquiring an additional 1,692,657 shares in the last quarter. Finally, TIAA FSB boosted its position in shares of JetBlue Airways by 26.1% during the 3rd quarter. TIAA FSB now owns 237,428 shares of the transportation company’s stock valued at $4,400,000 after acquiring an additional 49,142 shares in the last quarter. Institutional investors and hedge funds own 89.65% 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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