JetBlue Airways Corp. (JBLU) Downgraded to “Hold” at Zacks Investment Research
JetBlue Airways Corp. (NASDAQ:JBLU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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.”
A number of other equities research analysts have also commented on JBLU. Morgan Stanley restated a “hold” rating and set a $18.00 price objective on shares of JetBlue Airways Corp. in a research report on Thursday, July 28th. Vetr lowered JetBlue Airways Corp. from a “strong-buy” rating to a “buy” rating and set a $20.58 price objective for the company. in a research report on Tuesday, July 26th. Raymond James Financial Inc. restated an “outperform” rating on shares of JetBlue Airways Corp. in a research report on Wednesday, June 15th. Imperial Capital began coverage on JetBlue Airways Corp. in a research report on Friday, September 16th. They set an “outperform” rating and a $21.00 price objective for the company. Finally, Credit Suisse Group AG set a $20.00 price objective on JetBlue Airways Corp. and gave the stock a “hold” rating in a research report on Monday, September 12th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. JetBlue Airways Corp. has a consensus rating of “Buy” and an average price target of $23.37.
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Shares of JetBlue Airways Corp. (NASDAQ:JBLU) traded up 1.24% during mid-day trading on Thursday, reaching $17.99. 5,557,605 shares of the company’s stock traded hands. The company has a market capitalization of $5.82 billion, a P/E ratio of 7.99 and a beta of 0.36. The firm has a 50-day moving average price of $16.96 and a 200-day moving average price of $17.92. JetBlue Airways Corp. has a 1-year low of $14.76 and a 1-year high of $27.00.
JetBlue Airways Corp. (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. The firm earned $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $0.44 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that JetBlue Airways Corp. will post $2.19 earnings per share for the current fiscal year.
In other JetBlue Airways Corp. news, EVP James G. Hnat sold 10,000 shares of JetBlue Airways Corp. stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $17.27, for a total value of $172,700.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joel Clinton Peterson sold 5,120 shares of JetBlue Airways Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $18.27, for a total value of $93,542.40. Following the completion of the transaction, the director now directly owns 604,893 shares in the company, valued at $11,051,395.11. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of JetBlue Airways Corp. by 22.6% in the second quarter. Acrospire Investment Management LLC now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares in the last quarter. Exane Derivatives boosted its stake in JetBlue Airways Corp. by 173.3% in the second quarter. Exane Derivatives now owns 6,623 shares of the company’s stock worth $110,000 after buying an additional 4,200 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in JetBlue Airways Corp. during the second quarter worth about $115,000. Nisa Investment Advisors LLC boosted its stake in 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 in the last quarter. Finally, Advisor Group Inc. purchased a new stake in JetBlue Airways Corp. during the second quarter worth about $163,000. 79.64% of the stock is currently owned by 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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