BidaskClub Lowers JetBlue Airways (JBLU) to Sell

JetBlue Airways (NASDAQ:JBLU) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research analysts also recently issued reports on JBLU. Stifel Nicolaus restated a “hold” rating and issued a $23.00 price target (up from $20.00) on shares of JetBlue Airways in a research report on Wednesday, January 10th. Macquarie began coverage on shares of JetBlue Airways in a report on Monday, September 25th. They issued a “neutral” rating and a $21.00 price objective on the stock. Cowen increased their price objective on shares of JetBlue Airways from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Thursday, October 12th. Imperial Capital reaffirmed a “buy” rating and issued a $31.00 price objective on shares of JetBlue Airways in a report on Tuesday, October 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective (down previously from $21.00) on shares of JetBlue Airways in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.09.

JetBlue Airways (JBLU) traded up $0.09 during trading on Friday, hitting $22.57. 3,152,833 shares of the stock were exchanged, compared to its average volume of 3,501,556. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. JetBlue Airways has a one year low of $18.05 and a one year high of $24.13. The company has a market cap of $7,237.00, a P/E ratio of 11.63 and a beta of 0.68.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, topping 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 last year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. equities analysts expect that JetBlue Airways will post 1.77 EPS for the current year.

JetBlue Airways declared that its board has approved a stock buyback plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other news, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. The transaction was disclosed in a document filed 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 dated Wednesday, November 1st. The shares were sold at an average price of $18.96, for a total transaction of $97,075.20. Following the transaction, the director now owns 539,702 shares of the company’s stock, valued at approximately $10,232,749.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,665 shares of company stock worth $412,388. 0.60% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. M&T Bank Corp boosted its position in shares of JetBlue Airways by 0.9% during the 2nd quarter. M&T Bank Corp now owns 19,383 shares of the transportation company’s stock valued at $442,000 after purchasing an additional 181 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of JetBlue Airways by 2.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,310 shares of the transportation company’s stock valued at $258,000 after purchasing an additional 310 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of JetBlue Airways by 11.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,414 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 1,453 shares in the last quarter. National Asset Management Inc. boosted its position in shares of JetBlue Airways by 9.7% during the 2nd quarter. National Asset Management Inc. now owns 20,120 shares of the transportation company’s stock valued at $460,000 after purchasing an additional 1,771 shares in the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in shares of JetBlue Airways by 5.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 44,102 shares of the transportation company’s stock valued at $1,002,000 after purchasing an additional 2,157 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/01/21/bidaskclub-lowers-jetblue-airways-jblu-to-sell.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.

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