Wolfe Research Downgrades JetBlue Airways (JBLU) to Underperform

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

A number of other brokerages have also issued reports on JBLU. BidaskClub upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. Imperial Capital boosted their price target on shares of JetBlue Airways from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Citigroup boosted their price target on shares of JetBlue Airways from $21.50 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Finally, Bank of America set a $16.00 price target on shares of JetBlue Airways and gave the stock a “sell” rating in a research note on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.79.

NASDAQ:JBLU traded down $0.96 on Friday, reaching $17.89. 6,962,979 shares of the company’s stock were exchanged, compared to its average volume of 4,116,453. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a market capitalization of $5.75 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.68 and a beta of 0.59. JetBlue Airways has a 52-week low of $15.76 and a 52-week high of $23.08.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. JetBlue Airways had a net margin of 9.27% and a return on equity of 9.66%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts expect that JetBlue Airways will post 1.45 EPS for the current fiscal year.

In other news, EVP James G. Hnat sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $19.30, for a total transaction of $115,800.00. Following the completion of the transaction, the executive vice president now directly owns 3,437 shares of the company’s stock, valued at $66,334.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.

Several institutional investors have recently made changes to their positions in JBLU. Donald Smith & CO. Inc. grew its position in shares of JetBlue Airways by 64.4% during the second quarter. Donald Smith & CO. Inc. now owns 6,941,452 shares of the transportation company’s stock worth $131,749,000 after buying an additional 2,719,980 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in JetBlue Airways by 103.9% in the third quarter. Renaissance Technologies LLC now owns 3,217,604 shares of the transportation company’s stock valued at $62,293,000 after purchasing an additional 1,639,285 shares in the last quarter. Scout Investments Inc. acquired a new position in JetBlue Airways in the third quarter valued at approximately $25,623,000. LSV Asset Management boosted its holdings in JetBlue Airways by 18.3% in the second quarter. LSV Asset Management now owns 7,553,189 shares of the transportation company’s stock valued at $143,359,000 after purchasing an additional 1,168,454 shares in the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in JetBlue Airways in the third quarter valued at approximately $17,212,000. 88.91% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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The Fly

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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