JetBlue Airways (JBLU) Lifted to Market Perform at Wolfe Research

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

Several other research analysts have also commented on JBLU. Stifel Nicolaus reiterated a hold rating and issued a $23.00 price target (up previously from $20.00) on shares of JetBlue Airways in a research report on Wednesday, January 10th. Imperial Capital reiterated an outperform rating and issued a $31.00 price target on shares of JetBlue Airways in a research report on Friday, January 26th. Cowen reiterated a market perform rating and issued a $23.00 price target (down previously from $24.00) on shares of JetBlue Airways in a research report on Friday, January 26th. Buckingham Research reiterated a neutral rating on shares of JetBlue Airways in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. upgraded JetBlue Airways from a neutral rating to an overweight rating and set a $26.00 price target for the company in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. JetBlue Airways has a consensus rating of Hold and an average price target of $24.32.

Shares of JetBlue Airways (NASDAQ:JBLU) opened at $19.87 on Monday. The stock has a market capitalization of $6,377.67, a PE ratio of 11.30 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 debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. research analysts anticipate that JetBlue Airways will post 1.91 EPS for the current fiscal year.

JetBlue Airways declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 13th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other JetBlue Airways news, EVP George Martin J. St sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $23.00, for a total transaction of $69,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James G. Hnat sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the transaction, the executive vice president now owns 9,555 shares of the company’s stock, valued at approximately $199,126.20. The disclosure for this sale can be found here. Insiders have sold 20,545 shares of company stock valued at $442,303 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Several large investors have recently made changes to their positions in JBLU. PNC Financial Services Group Inc. boosted its position in shares of JetBlue Airways by 40.5% during the second quarter. PNC Financial Services Group Inc. now owns 19,470 shares of the transportation company’s stock valued at $444,000 after buying an additional 5,614 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of JetBlue Airways in the second quarter valued at approximately $281,000. HighTower Advisors LLC boosted its holdings in shares of JetBlue Airways by 50.9% in the second quarter. HighTower Advisors LLC now owns 16,631 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 5,609 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of JetBlue Airways in the second quarter valued at approximately $404,000. Finally, State Street Corp boosted its holdings in shares of JetBlue Airways by 0.5% in the second quarter. State Street Corp now owns 8,325,116 shares of the transportation company’s stock valued at $190,058,000 after purchasing an additional 40,286 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

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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. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

The Fly

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