JetBlue Airways Co. (NASDAQ:JBLU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “We are impressed by JetBlue Airways’ efforts to reduce its debt levels. The company's efforts to control costs also encourage us. We are also impressed by the renewable jet fuel purchase agreement inked by JetBlue Airways with SG Preston. We are also positive on the carrier's move to invest in JetSuite and the Embraer-190 maintenance and paint agreement with Premier Aviation. However, shares of JetBlue Airways underperformed the Zacks categorized Transportation-Airline industry in the last three months. Adding to its woes, the company trimmed its unit revenue guidance for the first quarter of 2017. Increasing labor costs and fuel prices are also expected to hurt the bottom line in the first quarter. The recent labor deals inked by JetBlue Airways have resulted in the spike in labor costs.”
Other equities research analysts also recently issued research reports about the company. Vetr upgraded JetBlue Airways from a “hold” rating to a “buy” rating and set a $24.25 price objective on the stock in a research report on Thursday, December 15th. Wolfe Research downgraded JetBlue Airways from a “market perform” rating to an “underperform” rating in a research report on Friday, January 27th. Imperial Capital reiterated an “outperform” rating and issued a $29.00 price objective on shares of JetBlue Airways in a research report on Tuesday, March 14th. Raymond James Financial, Inc. downgraded JetBlue Airways from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 21st. Finally, JPMorgan Chase & Co. upgraded JetBlue Airways from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $21.42 to $27.00 in a research report on Wednesday, January 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.95.
Shares of JetBlue Airways (NASDAQ:JBLU) opened at 20.29 on Friday. JetBlue Airways has a 52-week low of $14.76 and a 52-week high of $23.15. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 9.12 and a beta of 0.26. The firm has a 50 day moving average price of $19.73 and a 200-day moving average price of $19.52.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Thursday, January 26th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. JetBlue Airways had a return on equity of 20.64% and a net margin of 11.31%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that JetBlue Airways will post $1.80 earnings per share for the current year.
In other JetBlue Airways news, EVP James G. Hnat sold 9,127 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $20.41, for a total transaction of $186,282.07. Following the sale, the executive vice president now owns 26,932 shares in the company, valued at $549,682.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $22.66, for a total value of $45,320.00. Following the sale, the chief executive officer now owns 351,881 shares in the company, valued at approximately $7,973,623.46. The disclosure for this sale can be found here. Insiders have sold 19,247 shares of company stock worth $409,083 in the last 90 days. Company insiders own 0.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in JBLU. Public Employees Retirement Association of Colorado increased its stake in JetBlue Airways by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 10,382 shares of the company’s stock worth $179,000 after buying an additional 42 shares during the last quarter. MSI Financial Services Inc increased its stake in JetBlue Airways by 0.6% in the third quarter. MSI Financial Services Inc now owns 15,750 shares of the company’s stock worth $272,000 after buying an additional 88 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in JetBlue Airways by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 55,617 shares of the company’s stock worth $921,000 after buying an additional 222 shares during the last quarter. Arcus Capital Partners LLC increased its stake in JetBlue Airways by 2.8% in the third quarter. Arcus Capital Partners LLC now owns 11,310 shares of the company’s stock worth $195,000 after buying an additional 310 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in JetBlue Airways by 0.6% in the third quarter. Hsbc Holdings PLC now owns 58,768 shares of the company’s stock worth $1,013,000 after buying an additional 323 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.
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. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint.
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