JetBlue Airways (JBLU) Cut to “Hold” at ValuEngine

JetBlue Airways (NASDAQ:JBLU) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research analysts have also weighed in on the company. Stephens reissued a “hold” rating and issued a $24.00 price objective on shares of JetBlue Airways in a research report on Thursday, March 29th. BidaskClub lowered JetBlue Airways from a “hold” rating to a “sell” rating in a research report on Thursday, March 29th. Wolfe Research raised JetBlue Airways from an “underperform” rating to a “market perform” rating in a research report on Monday, February 12th. JPMorgan Chase raised JetBlue Airways from a “neutral” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Tuesday, January 30th. Finally, Buckingham Research reissued a “neutral” rating on shares of JetBlue Airways in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.48.

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NASDAQ:JBLU traded down $0.47 during trading hours on Monday, hitting $19.48. 7,399,183 shares of the company were exchanged, compared to its average volume of 4,964,158. The firm has a market cap of $6,335.50, a P/E ratio of 11.39, a P/E/G ratio of 0.57 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.50 and a debt-to-equity ratio of 0.21. JetBlue Airways has a one year low of $18.05 and a one year high of $24.13.

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 Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. equities research analysts expect that JetBlue Airways will post 1.92 EPS for the current year.

JetBlue Airways announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 13th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.87, for a total value of $41,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total value of $69,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,000 shares of company stock valued at $365,420. 0.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of JetBlue Airways by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,295,104 shares of the transportation company’s stock valued at $209,297,000 after buying an additional 259,499 shares during the period. LSV Asset Management boosted its stake in JetBlue Airways by 26.8% during the 4th quarter. LSV Asset Management now owns 5,431,735 shares of the transportation company’s stock valued at $121,344,000 after purchasing an additional 1,146,890 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in 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 purchasing an additional 1,692,657 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in JetBlue Airways by 22.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock valued at $90,072,000 after purchasing an additional 899,775 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in JetBlue Airways by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,634,230 shares of the transportation company’s stock valued at $81,189,000 after purchasing an additional 200,237 shares during the last quarter. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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