JetBlue Airways Corp. (JBLU) Downgraded by Zacks Investment Research to Hold
JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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.”
Other analysts also recently issued reports about the stock. 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 report on Thursday, July 14th. Credit Suisse Group AG set a $20.00 target price on shares of JetBlue Airways Corp. and gave the stock a “hold” rating in a report on Monday, September 12th. Morgan Stanley restated a “hold” rating and issued a $19.00 target price on shares of JetBlue Airways Corp. in a report on Sunday, August 21st. JPMorgan Chase & Co. reduced their target price on shares of JetBlue Airways Corp. from $24.50 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Finally, Imperial Capital started coverage on shares of JetBlue Airways Corp. in a report on Friday, September 16th. They issued an “outperform” rating and a $21.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. JetBlue Airways Corp. presently has an average rating of “Buy” and an average price target of $23.37.
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JetBlue Airways Corp. (NASDAQ:JBLU) traded up 1.491% during mid-day trading on Thursday, hitting $18.035. 5,696,518 shares of the stock were exchanged. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 8.008 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 company’s 50-day moving average price is $16.96 and its 200 day moving average price is $17.92.
JetBlue Airways Corp. (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company 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%. JetBlue Airways Corp.’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. Equities research analysts expect that JetBlue Airways Corp. will post $2.19 EPS for the current year.
In other news, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $17.42, for a total value of $34,840.00. Following the completion of the sale, the chief executive officer now owns 357,881 shares of the company’s stock, valued at approximately $6,234,287.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James G. Hnat sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was 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. 0.70% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of JetBlue Airways Corp. by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,548,480 shares of the company’s stock valued at $53,823,000 after buying an additional 256,507 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of JetBlue Airways Corp. by 44.4% in the first quarter. Riverhead Capital Management LLC now owns 236,678 shares of the company’s stock valued at $4,999,000 after buying an additional 72,761 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of JetBlue Airways Corp. by 2,352.8% in the first quarter. Lazard Asset Management LLC now owns 150,724 shares of the company’s stock valued at $3,183,000 after buying an additional 144,579 shares during the last quarter. State Street Corp boosted its stake in shares of JetBlue Airways Corp. by 3.3% in the first quarter. State Street Corp now owns 8,429,760 shares of the company’s stock valued at $178,037,000 after buying an additional 271,565 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of JetBlue Airways Corp. by 8.2% in the first quarter. Canada Pension Plan Investment Board now owns 389,700 shares of the company’s stock valued at $8,230,000 after buying an additional 29,500 shares during the last quarter. 79.64% of the stock is owned by hedge funds and other institutional investors.
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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