JetBlue Airways (JBLU) Raised to “Hold” at BidaskClub

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

Several other brokerages have also weighed in on JBLU. ValuEngine upgraded shares of JetBlue Airways from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Cowen reiterated a market perform rating and set a $24.00 price objective (up from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. Stifel Nicolaus reiterated a hold rating and set a $23.00 price objective (up from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Bank of America lowered shares of JetBlue Airways from a buy rating to an underperform rating and set a $22.00 price objective on the stock. in a report on Tuesday, January 9th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.09.

JetBlue Airways (NASDAQ:JBLU) opened at $22.93 on Friday. The firm has a market cap of $7,350.00, a PE ratio of 11.70 and a beta of 0.68. JetBlue Airways has a 1-year low of $18.05 and a 1-year high of $24.13. 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 (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. research analysts anticipate that JetBlue Airways will post 1.77 earnings per share for the current year.

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

In related news, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $22.47, for a total value of $44,940.00. Following the transaction, the chief executive officer now owns 396,535 shares in the company, valued at $8,910,141.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $18.96, for a total transaction of $97,075.20. Following the completion of the transaction, the director now owns 539,702 shares in the company, valued at approximately $10,232,749.92. The disclosure for this sale can be found here. Insiders sold 16,665 shares of company stock worth $343,388 in the last 90 days. 0.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in JetBlue Airways by 29.7% in the third quarter. Public Employees Retirement System of Ohio now owns 744,398 shares of the transportation company’s stock valued at $13,794,000 after acquiring an additional 170,351 shares in the last quarter. Cetera Advisors LLC acquired a new stake in JetBlue Airways in the third quarter valued at approximately $199,000. California Public Employees Retirement System grew its position in JetBlue Airways by 1.1% in the third quarter. California Public Employees Retirement System now owns 774,105 shares of the transportation company’s stock valued at $14,344,000 after acquiring an additional 8,701 shares in the last quarter. Janney Montgomery Scott LLC grew its position in JetBlue Airways by 55.4% in the third quarter. Janney Montgomery Scott LLC now owns 58,666 shares of the transportation company’s stock valued at $1,087,000 after acquiring an additional 20,910 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in JetBlue Airways by 336.4% in the third quarter. Cubist Systematic Strategies LLC now owns 49,353 shares of the transportation company’s stock valued at $915,000 after acquiring an additional 38,043 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

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JetBlue Airways 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. 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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