Traders Buy Shares of JetBlue Airways (JBLU) on Weakness

Investors purchased shares of JetBlue Airways Co. (NASDAQ:JBLU) on weakness during trading on Friday. $44.14 million flowed into the stock on the tick-up and $12.52 million flowed out of the stock on the tick-down, for a money net flow of $31.62 million into the stock. Of all stocks tracked, JetBlue Airways had the 19th highest net in-flow for the day. JetBlue Airways traded down ($0.31) for the day and closed at $21.38

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine raised shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Macquarie assumed coverage on shares of JetBlue Airways in a research note on Monday, September 25th. They issued a “neutral” rating and a $21.00 price target on the stock. Cowen raised their price target on shares of JetBlue Airways from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Thursday, October 12th. Finally, Imperial Capital reaffirmed a “buy” rating and issued a $31.00 price target on shares of JetBlue Airways in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. JetBlue Airways has a consensus rating of “Hold” and an average price target of $24.56.

The firm has a market capitalization of $6,860.00, a price-to-earnings ratio of 10.91 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 (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. JetBlue Airways’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. equities analysts anticipate that JetBlue Airways Co. will post 1.76 earnings per share for the current year.

JetBlue Airways announced that its board has approved a share buyback plan on Wednesday, December 13th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In other news, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $18.96, for a total transaction of $97,075.20. Following the completion of the sale, the director now owns 539,702 shares in the company, valued at approximately $10,232,749.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $22.47, for a total transaction of $44,940.00. Following the sale, the chief executive officer now owns 396,535 shares of the company’s stock, valued at approximately $8,910,141.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,665 shares of company stock valued at $343,388. 0.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in JBLU. Cetera Advisors LLC acquired a new stake in shares of JetBlue Airways during the 3rd quarter worth approximately $199,000. Investment Centers of America Inc. acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $205,000. Keybank National Association OH acquired a new stake in shares of JetBlue Airways during the 2nd quarter worth approximately $210,000. Rational Advisors LLC acquired a new stake in shares of JetBlue Airways during the 3rd quarter worth approximately $217,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of JetBlue Airways by 82.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,653 shares of the transportation company’s stock worth $232,000 after buying an additional 4,801 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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About JetBlue Airways

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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