BidaskClub Downgrades JetBlue Airways Corporation (JBLU) to Hold

BidaskClub lowered shares of JetBlue Airways Corporation (NASDAQ:JBLU) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised JetBlue Airways Corporation from a strong sell rating to a hold rating in a research report on Friday, March 17th. Vetr raised JetBlue Airways Corporation from a buy rating to a strong-buy rating and set a $25.22 target price for the company in a research report on Wednesday, April 26th. Imperial Capital reissued an outperform rating and issued a $29.00 target price on shares of JetBlue Airways Corporation in a research report on Tuesday, March 14th. Cowen and Company upped their target price on JetBlue Airways Corporation from $23.00 to $24.00 and gave the company a market perform rating in a research report on Wednesday, April 26th. Finally, Morgan Stanley upped their target price on JetBlue Airways Corporation from $22.00 to $23.00 and gave the company an equal weight rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. JetBlue Airways Corporation currently has a consensus rating of Hold and a consensus price target of $24.82.

Analyst Recommendations for JetBlue Airways Corporation (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) opened at 22.40 on Tuesday. JetBlue Airways Corporation has a 52 week low of $14.76 and a 52 week high of $23.37. The stock has a 50 day moving average price of $22.21 and a 200 day moving average price of $21.23. The stock has a market capitalization of $7.47 billion, a PE ratio of 11.99 and a beta of 0.52.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its earnings results on Tuesday, April 25th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. JetBlue Airways Corporation had a return on equity of 16.42% and a net margin of 9.61%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts forecast that JetBlue Airways Corporation will post $1.90 EPS for the current year.

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In other news, CEO Robin Hayes sold 2,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $21.76, for a total transaction of $43,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $20.48, for a total value of $104,857.60. Following the transaction, the director now directly owns 569,042 shares of the company’s stock, valued at $11,653,980.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,740 shares of company stock valued at $968,614. Company insiders own 0.60% of the company’s stock.

Several institutional investors have recently modified their holdings of JBLU. Teachers Retirement System of The State of Kentucky increased its position in shares of JetBlue Airways Corporation by 3.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 253,979 shares of the transportation company’s stock worth $5,694,000 after buying an additional 8,913 shares during the period. United Capital Financial Advisers LLC increased its position in JetBlue Airways Corporation by 275.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 58,033 shares of the transportation company’s stock valued at $1,301,000 after buying an additional 42,575 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in JetBlue Airways Corporation during the fourth quarter valued at $379,000. Cigna Investments Inc. New purchased a new position in JetBlue Airways Corporation during the fourth quarter valued at $256,000. Finally, Menora Mivtachim Holdings LTD. purchased a new position in JetBlue Airways Corporation during the fourth quarter valued at $117,000. 84.21% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways Corporation

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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