BidaskClub Upgrades JetBlue Airways (JBLU) to “Hold”

JetBlue Airways (NASDAQ:JBLU) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday, March 16th.

Other equities analysts also recently issued reports about the company. Stephens initiated coverage on JetBlue Airways in a research note on Wednesday, November 29th. They issued an “equal weight” rating and a $22.00 target price for the company. ValuEngine upgraded JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 11th. Cowen reissued a “market perform” rating and set a $24.00 target price (up previously from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. Bank of America cut JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 target price on the stock. in a report on Tuesday, January 9th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price (up previously from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.48.

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Shares of NASDAQ JBLU traded down $0.69 during midday trading on Friday, reaching $19.95. 5,738,460 shares of the company’s stock were exchanged, compared to its average volume of 5,076,643. JetBlue Airways has a 52-week low of $18.05 and a 52-week high of $24.13. The firm has a market cap of $6,335.50, a price-to-earnings ratio of 11.67, a PEG ratio of 0.57 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.50.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. JetBlue Airways had a return on equity of 13.57% and a net margin of 16.35%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. research analysts predict that JetBlue Airways will post 1.92 EPS for the current year.

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

In other JetBlue Airways news, EVP George Martin J. St sold 3,000 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $20.32, for a total transaction of $40,640.00. Following the sale, the chief executive officer now owns 426,069 shares of the company’s stock, valued at $8,657,722.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,000 shares of company stock worth $365,420. 0.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Focused Wealth Management Inc acquired a new position in shares of JetBlue Airways during the fourth quarter valued at about $189,000. First Dallas Securities Inc. acquired a new position in shares of JetBlue Airways during the fourth quarter valued at about $201,000. Cetera Advisors LLC acquired a new position in shares of JetBlue Airways during the third quarter valued at about $199,000. DekaBank Deutsche Girozentrale raised its position in shares of JetBlue Airways by 82.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock valued at $232,000 after buying an additional 4,801 shares during the last quarter. Finally, Rational Advisors LLC acquired a new position in shares of JetBlue Airways during the third quarter valued at about $217,000. Institutional investors own 91.03% 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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