Imperial Capital Reaffirms “Outperform” Rating for JetBlue Airways (JBLU)
Imperial Capital reiterated their outperform rating on shares of JetBlue Airways (NASDAQ:JBLU) in a report issued on Friday morning. Imperial Capital currently has a $31.00 target price on the transportation company’s stock. Imperial Capital also issued estimates for JetBlue Airways’ Q1 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.69 EPS and FY2018 earnings at $1.90 EPS.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank lifted their target price on JetBlue Airways from $26.00 to $27.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Stephens initiated coverage on JetBlue Airways in a research note on Wednesday, November 29th. They issued an equal weight rating and a $22.00 target price for the company. Morgan Stanley reissued an equal weight rating and issued a $20.00 target price (down from $21.00) on shares of JetBlue Airways in a research note on Wednesday, October 4th. Stifel Nicolaus reissued a hold rating and issued a $23.00 target price (up from $20.00) on shares of JetBlue Airways in a research note on Wednesday, January 10th. Finally, Zacks Investment Research raised JetBlue Airways from a strong sell rating to a hold rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $24.02.
Shares of JetBlue Airways (NASDAQ:JBLU) opened at $20.28 on Friday. JetBlue Airways has a twelve month low of $18.05 and a twelve month high of $24.13. The firm has a market capitalization of $6,500.00, a price-to-earnings ratio of 5.78 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25.
JetBlue Airways declared that its board has initiated a stock buyback program on Wednesday, December 13th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP James G. Hnat sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $21.05, for a total value of $42,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.00, for a total value of $69,000.00. The disclosure for this sale can be found here. Insiders sold a total of 19,665 shares of company stock worth $412,388 over the last 90 days. 0.60% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in JetBlue Airways by 6.9% during the second quarter. Franklin Resources Inc. now owns 91,649 shares of the transportation company’s stock worth $2,093,000 after acquiring an additional 5,912 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in 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 worth $444,000 after acquiring an additional 5,614 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in JetBlue Airways by 6.5% during the second quarter. Thrivent Financial For Lutherans now owns 67,355 shares of the transportation company’s stock worth $1,538,000 after acquiring an additional 4,110 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in JetBlue Airways by 83.8% during the second quarter. UBS Asset Management Americas Inc. now owns 105,726 shares of the transportation company’s stock worth $2,414,000 after acquiring an additional 48,216 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in JetBlue Airways during the second quarter worth about $281,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
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JetBlue Airways 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. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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