JetBlue Airways Corporation (NASDAQ:JBLU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, July 12th. The firm currently has a $26.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 19.21% from the stock’s current price.
According to Zacks, “Even though shares of JetBlue Airways have underperformed the Zacks categorized Transportation- Airline industry over the last three months, the company has its share of positives. In May 2017, the carrier issued a bullish view on unit revenues for the second and third quarters of 2017. The company expects RASM to grow in the band of 4–6% . The improved unit revenue scenario should aid second quarter results, scheduled for Jul 25. The positive sentiment regarding the stock can be gauged from the 2% increase in the Zacks Consensus Estimate for the second quarter to $0.51 per share over the last two months. JetBlue's efforts to expand its popular premium service (Mint) and reduce debt levels are also encouraging. The carrier's deal with Goldman Sachs for implementing an accelerated share buyback program is another positive. However, high costs are likely to continue hurting bottom-line growth.”
Several other research analysts have also weighed in on the stock. Bank of America Corporation upped their price objective on shares of JetBlue Airways Corporation from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 30th. BidaskClub downgraded shares of JetBlue Airways Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Morgan Stanley boosted their target price on shares of JetBlue Airways Corporation from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 13th. Vetr raised shares of 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. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $29.00 price objective on shares of JetBlue Airways Corporation in a report on Tuesday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.69.
Shares of JetBlue Airways Corporation (JBLU) traded down 1.49% during trading on Wednesday, hitting $21.81. 5,284,775 shares of the company’s stock were exchanged. The firm has a market capitalization of $7.17 billion, a PE ratio of 11.07 and a beta of 0.53. JetBlue Airways Corporation has a 1-year low of $15.70 and a 1-year high of $24.13. The stock’s 50 day moving average is $22.77 and its 200 day moving average is $21.41.
JetBlue Airways Corporation (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. On average, equities research analysts forecast that JetBlue Airways Corporation will post $2.03 earnings per share for the current year.
In related news, EVP James G. Hnat sold 15,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $21.67, for a total transaction of $325,050.00. Following the completion of the sale, the executive vice president now owns 48,992 shares in the company, valued at approximately $1,061,656.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $22.87, for a total transaction of $45,740.00. Following the sale, the chief executive officer now owns 408,362 shares of the company’s stock, valued at approximately $9,339,238.94. The disclosure for this sale can be found here. Insiders have sold a total of 43,740 shares of company stock valued at $972,026 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in JBLU. Quantbot Technologies LP purchased a new stake in shares of JetBlue Airways Corporation during the first quarter worth about $138,000. Americafirst Capital Management LLC bought a new stake in JetBlue Airways Corporation during the first quarter valued at $141,000. James Investment Research Inc. bought a new stake in JetBlue Airways Corporation during the first quarter valued at $150,000. Kistler Tiffany Companies LLC bought a new stake in JetBlue Airways Corporation during the first quarter valued at $155,000. Finally, CENTRAL TRUST Co bought a new stake in JetBlue Airways Corporation during the second quarter valued at $162,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
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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