JetBlue Airways (JBLU) Upgraded by Wolfe Research to Market Perform

JetBlue Airways (NASDAQ:JBLU) was upgraded by equities research analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a research note issued to investors on Monday, The Fly reports.

Other analysts also recently issued reports about the stock. Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price (up from $20.00) on shares of JetBlue Airways in a research note on Wednesday, January 10th. Stephens assumed coverage on shares of JetBlue Airways in a report on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. cut shares of JetBlue Airways from an “overweight” rating to a “neutral” rating and set a $22.00 price target on the stock. in a report on Wednesday, November 1st. Cowen restated a “market perform” rating and set a $23.00 price target (down from $24.00) on shares of JetBlue Airways in a report on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of JetBlue Airways from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.32.

JetBlue Airways (JBLU) traded up $0.06 on Monday, reaching $19.89. The company’s stock had a trading volume of 5,870,300 shares, compared to its average volume of 5,228,373. The firm has a market capitalization of $6,380.00, a P/E ratio of 5.72 and a beta of 0.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. JetBlue Airways has a 12-month low of $18.05 and a 12-month high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. research analysts predict that JetBlue Airways will post 1.91 earnings per share for the current fiscal year.

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

In other JetBlue Airways news, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $21.38, for a total transaction of $42,760.00. Following the completion of the sale, the chief executive officer now directly owns 398,535 shares in the company, valued at $8,520,678.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James G. Hnat sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $20.84, for a total transaction of $104,200.00. Following the sale, the executive vice president now owns 9,555 shares of the company’s stock, valued at $199,126.20. The disclosure for this sale can be found here. Insiders sold 20,545 shares of company stock valued at $442,303 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of JetBlue Airways by 40.5% during the second quarter. PNC Financial Services Group Inc. now owns 19,470 shares of the transportation company’s stock valued at $444,000 after buying an additional 5,614 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of JetBlue Airways during the second quarter valued at approximately $281,000. HighTower Advisors LLC grew its stake in shares of JetBlue Airways by 50.9% during the second quarter. HighTower Advisors LLC now owns 16,631 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 5,609 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of JetBlue Airways during the second quarter valued at approximately $404,000. Finally, State Street Corp grew its stake in shares of JetBlue Airways by 0.5% during the second quarter. State Street Corp now owns 8,325,116 shares of the transportation company’s stock valued at $190,058,000 after purchasing an additional 40,286 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

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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.

The Fly

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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