Wolfe Research Upgrades JetBlue Airways (JBLU) to Market Perform

Wolfe Research upgraded shares of JetBlue Airways (NASDAQ:JBLU) from an underperform rating to a market perform rating in a research report report published on Monday, The Fly reports.

A number of other research firms have also recently weighed in on JBLU. BidaskClub raised shares of JetBlue Airways from a sell rating to a hold rating in a report on Saturday, January 13th. ValuEngine raised shares of JetBlue Airways from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Cowen reaffirmed a market perform rating and issued a $24.00 price objective (up previously from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. Stifel Nicolaus reaffirmed a hold rating and issued a $23.00 price objective (up previously from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Finally, Bank of America cut shares of JetBlue Airways from a buy rating to an underperform rating and set a $22.00 price objective on the stock. in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $24.32.

Shares of JetBlue Airways (JBLU) opened at $20.14 on Monday. The firm has a market cap of $6,400.11, a price-to-earnings ratio of 11.34 and a beta of 0.59. JetBlue Airways has a twelve month low of $18.05 and a twelve month high of $24.13. 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 issued its earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. sell-side analysts anticipate that JetBlue Airways will post 1.91 EPS for the current fiscal year.

JetBlue Airways declared that its board has approved a stock buyback plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other JetBlue Airways news, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James G. Hnat sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $20.84, for a total transaction of $104,200.00. Following the transaction, the executive vice president now directly owns 9,555 shares in the company, valued at approximately $199,126.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,545 shares of company stock worth $442,303. 0.60% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in JetBlue Airways by 8.8% during the 3rd quarter. Legal & General Group Plc now owns 260,874 shares of the transportation company’s stock valued at $4,834,000 after buying an additional 21,209 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. increased its stake in JetBlue Airways by 50.9% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 68,200 shares of the transportation company’s stock valued at $1,523,000 after buying an additional 23,000 shares during the period. Palisade Capital Management LLC NJ increased its stake in JetBlue Airways by 34.4% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 21,500 shares of the transportation company’s stock valued at $398,000 after buying an additional 5,500 shares during the period. Frontier Capital Management Co. LLC increased its stake in JetBlue Airways by 47.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock valued at $118,251,000 after buying an additional 1,692,657 shares during the period. Finally, TIAA FSB increased its stake in JetBlue Airways by 26.1% during the 3rd quarter. TIAA FSB now owns 237,428 shares of the transportation company’s stock valued at $4,400,000 after buying an additional 49,142 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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