JetBlue Airways (JBLU) Raised to Strong-Buy at ValuEngine

JetBlue Airways (NASDAQ:JBLU) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

JBLU has been the topic of a number of other reports. BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Cowen reaffirmed a “market perform” rating and issued a $24.00 target price (up from $22.00) on shares of JetBlue Airways in a research report on Tuesday, December 12th. Stephens started coverage on shares of JetBlue Airways in a research report on Wednesday, November 29th. They issued an “equal weight” rating and a $22.00 target price on the stock. Deutsche Bank increased their target price on shares of JetBlue Airways from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Imperial Capital reaffirmed a “buy” rating and issued a $31.00 target price on shares of JetBlue Airways in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.56.

Shares of JetBlue Airways (NASDAQ JBLU) traded down $0.20 during trading hours on Friday, hitting $22.34. 3,115,738 shares of the company’s stock were exchanged, compared to its average volume of 4,430,000. JetBlue Airways has a 52 week low of $18.05 and a 52 week high of $24.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $7,230.00, a P/E ratio of 11.40 and a beta of 0.68.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. research analysts expect that JetBlue Airways will post 1.76 earnings per share for the current fiscal year.

JetBlue Airways declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 13th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In other JetBlue Airways news, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.38, for a total transaction of $42,760.00. Following the transaction, the chief executive officer now directly owns 398,535 shares of the company’s stock, valued at approximately $8,520,678.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $18.96, for a total transaction of $97,075.20. Following the transaction, the director now directly owns 539,702 shares in the company, valued at $10,232,749.92. The disclosure for this sale can be found here. Insiders have sold a total of 14,665 shares of company stock worth $298,448 over the last three months. 0.60% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of JBLU. Cetera Advisors LLC purchased a new position in JetBlue Airways during the 3rd quarter worth $199,000. Investment Centers of America Inc. purchased a new position in JetBlue Airways during the 2nd quarter worth $205,000. Keybank National Association OH purchased a new position in JetBlue Airways during the 2nd quarter worth $210,000. Rational Advisors LLC purchased a new position in JetBlue Airways during the 3rd quarter worth $217,000. Finally, DekaBank Deutsche Girozentrale grew its position in JetBlue Airways by 82.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock worth $232,000 after purchasing an additional 4,801 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/01/jetblue-airways-jblu-raised-to-strong-buy-at-valuengine.html.

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.

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

Receive News & Ratings for JetBlue Airways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JetBlue Airways and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply