JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “We are impressed by the renewable jet fuel purchase agreement inked by JetBlue Airways with SG Preston. The carrier's strong September traffic report is also encouraging . We are also positive on the U.S. DOT’s decision to grant final approval to eight carriers, including JetBlue, to initiate commercial flights to Havana. The approval was gained on the same day the first U.S. flight landed in Cuba in more than 50 years. The flight from Fort Lauderdale to Santa Clara was operated by JetBlue. However, we remain concerned about headwinds like the surge in terror attacks and uncertainty following Brexit, to name a few. Moreover, the company’s failure to seal the deal to buy Virgin America has dealt a blow to its expansion plans.”
Several other equities analysts also recently weighed in on JBLU. Raymond James Financial Inc. reissued an “outperform” rating on shares of JetBlue Airways Corp. in a research note on Wednesday, June 15th. Credit Suisse Group AG reissued an “underweight” rating on shares of JetBlue Airways Corp. in a research note on Saturday, June 25th. Vetr downgraded shares of JetBlue Airways Corp. from a “strong-buy” rating to a “buy” rating and set a $20.58 price target on the stock. in a research note on Thursday, July 14th. JPMorgan Chase & Co. decreased their price target on shares of JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. Finally, Morgan Stanley reissued a “hold” rating and issued a $18.00 price target on shares of JetBlue Airways Corp. in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.42.
JetBlue Airways Corp. (NASDAQ:JBLU) opened at 17.84 on Thursday. The company has a market capitalization of $5.77 billion, a P/E ratio of 7.92 and a beta of 0.36. JetBlue Airways Corp. has a 52 week low of $14.76 and a 52 week high of $27.00. The firm has a 50-day moving average of $17.07 and a 200-day moving average of $17.90.
JetBlue Airways Corp. (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. JetBlue Airways Corp. had a net margin of 11.73% and a return on equity of 22.84%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Analysts anticipate that JetBlue Airways Corp. will post $2.19 EPS for the current fiscal year.
In related news, Director Joel Clinton Peterson sold 5,120 shares of JetBlue Airways Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $15.81, for a total value of $80,947.20. Following the completion of the transaction, the director now owns 599,773 shares in the company, valued at $9,482,411.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James G. Hnat sold 10,000 shares of JetBlue Airways Corp. stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $17.27, for a total transaction of $172,700.00. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. Highland Capital Management LLC boosted its position in shares of JetBlue Airways Corp. by 40.4% in the third quarter. Highland Capital Management LLC now owns 287,650 shares of the company’s stock worth $4,959,000 after buying an additional 82,800 shares during the period. MSI Financial Services Inc boosted its position in shares of JetBlue Airways Corp. by 0.6% in the third quarter. MSI Financial Services Inc now owns 15,750 shares of the company’s stock worth $272,000 after buying an additional 88 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of JetBlue Airways Corp. by 128.6% in the third quarter. Nisa Investment Advisors LLC now owns 8,000 shares of the company’s stock worth $138,000 after buying an additional 4,500 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of JetBlue Airways Corp. during the third quarter worth $428,000. Finally, Creative Planning boosted its position in shares of JetBlue Airways Corp. by 41.8% in the third quarter. Creative Planning now owns 579,580 shares of the company’s stock worth $9,992,000 after buying an additional 170,809 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.
JetBlue Airways Corp. 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. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint.
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