JetBlue Airways (JBLU) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a strong sell rating in a report published on Friday.

Several other research firms have also weighed in on JBLU. Stifel Nicolaus restated a hold rating and set a $19.00 price target on shares of JetBlue Airways in a research report on Wednesday, August 1st. Barclays cut their target price on shares of JetBlue Airways from $29.00 to $27.00 and set an overweight rating for the company in a research report on Monday, July 16th. Cowen cut their target price on shares of JetBlue Airways from $22.00 to $20.00 and set a market perform rating for the company in a research report on Wednesday, July 25th. Morgan Stanley set a $20.00 target price on shares of JetBlue Airways and gave the stock a hold rating in a research report on Friday, October 5th. Finally, Macquarie set a $18.00 target price on shares of JetBlue Airways and gave the stock a hold rating in a research report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $21.67.

JBLU traded up $0.15 during trading on Friday, hitting $16.36. 7,414,409 shares of the company traded hands, compared to its average volume of 4,890,528. The firm has a market cap of $6.06 billion, a P/E ratio of 9.57, a PEG ratio of 1.28 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.59. JetBlue Airways has a one year low of $16.03 and a one year high of $23.08.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 24th. The transportation company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.93 billion. JetBlue Airways had a net margin of 11.30% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that JetBlue Airways will post 1.48 earnings per share for the current fiscal year.

In other news, EVP George Martin J. St sold 3,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $19.39, for a total value of $58,170.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.12, for a total transaction of $38,240.00. Following the completion of the sale, the chief executive officer now directly owns 436,803 shares in the company, valued at $8,351,673.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,000 shares of company stock worth $248,150. Insiders own 0.63% of the company’s stock.

Several institutional investors have recently made changes to their positions in JBLU. Private Capital Group LLC lifted its holdings in shares of JetBlue Airways by 178.8% in the first quarter. Private Capital Group LLC now owns 5,780 shares of the transportation company’s stock worth $117,000 after buying an additional 3,707 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in JetBlue Airways in the second quarter valued at approximately $147,000. Cerebellum GP LLC raised its stake in JetBlue Airways by 75.3% in the second quarter. Cerebellum GP LLC now owns 9,501 shares of the transportation company’s stock valued at $180,000 after purchasing an additional 4,081 shares in the last quarter. Lincoln National Corp purchased a new stake in JetBlue Airways in the second quarter valued at approximately $190,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in JetBlue Airways in the second quarter valued at approximately $281,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

About JetBlue Airways

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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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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