JetBlue Airways Corporation (JBLU) Upgraded to “Hold” by Zacks Investment Research
JetBlue Airways Corporation (NASDAQ:JBLU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Shares of JetBlue Airways have underperformed its industry so far this year. The stock has also been plagued by multiple challenges of late. Adding to its woes, the carrier's eanings in third quarter declined year over year due to high costs. The recent hurricanes also hurt results. In fact the hurricanes might hurt results in the fourth quarter as well. Operating expenses too increased significantly in the quarter with fuel expenses increasing a massive 18.3%. The persistent rise in fuel and labor costs have the potential to hurt results going forward. However, the carrier's revenues in third quarter increased 4.7%, beating the Zacks Consensus Estimate of $1,809.3 million. Passenger revenues improved 3.3% in the quarter. We are impressed by the carrier's efforts to expand its popular Mint service. Efforts to bring down its debt levels also please us.”
Several other equities research analysts have also recently issued reports on the company. Standpoint Research started coverage on JetBlue Airways Corporation in a research note on Friday, September 1st. They set an “accumulate” rating and a $26.00 target price for the company. ValuEngine cut JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG raised their target price on JetBlue Airways Corporation from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Cowen and Company reissued a “hold” rating and set a $21.00 target price on shares of JetBlue Airways Corporation in a research note on Friday, September 8th. Finally, Buckingham Research cut JetBlue Airways Corporation from a “buy” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.02.
JetBlue Airways Corporation (NASDAQ:JBLU) traded up $0.68 during mid-day trading on Wednesday, reaching $19.63. The company’s stock had a trading volume of 5,332,100 shares, compared to its average volume of 5,937,264. 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 firm has a market capitalization of $6,076.26, a PE ratio of 9.77 and a beta of 0.65. JetBlue Airways Corporation has a one year low of $18.05 and a one year high of $24.13.
JetBlue Airways Corporation (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. JetBlue Airways Corporation had a return on equity of 15.95% and a net margin of 9.38%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. analysts predict that JetBlue Airways Corporation will post 1.73 EPS for the current fiscal year.
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In related news, Director Joel Clinton Peterson sold 5,120 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $18.45, for a total transaction of $94,464.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $19.89, for a total value of $39,780.00. Following the transaction, the chief executive officer now directly owns 404,362 shares of the company’s stock, valued at $8,042,760.18. The disclosure for this sale can be found here. Insiders have sold a total of 24,860 shares of company stock valued at $474,419 over the last three months. 0.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its stake in JetBlue Airways Corporation by 336.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,353 shares of the transportation company’s stock worth $915,000 after purchasing an additional 38,043 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in JetBlue Airways Corporation by 22.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock worth $90,072,000 after purchasing an additional 899,775 shares in the last quarter. U S Global Investors Inc. grew its stake in JetBlue Airways Corporation by 20.9% during the 3rd quarter. U S Global Investors Inc. now owns 254,450 shares of the transportation company’s stock worth $4,712,000 after purchasing an additional 43,994 shares in the last quarter. Jane Street Group LLC grew its stake in JetBlue Airways Corporation by 103.9% during the 3rd quarter. Jane Street Group LLC now owns 71,541 shares of the transportation company’s stock worth $1,326,000 after purchasing an additional 36,450 shares in the last quarter. Finally, Vident Investment Advisory LLC grew its stake in JetBlue Airways Corporation by 5.5% during the 3rd quarter. Vident Investment Advisory LLC now owns 123,490 shares of the transportation company’s stock worth $2,288,000 after purchasing an additional 6,492 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.
JetBlue Airways Corporation 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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