BidaskClub upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a hold rating in a report published on Saturday morning.
A number of other research analysts also recently issued reports on the company. Stifel Nicolaus reissued a hold rating and issued a $23.00 price objective (up from $20.00) on shares of JetBlue Airways in a research note on Wednesday. Bank of America downgraded JetBlue Airways from a buy rating to an underperform rating and set a $22.00 price objective on the stock. in a research note on Tuesday, January 9th. ValuEngine raised JetBlue Airways from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Macquarie began coverage on JetBlue Airways in a research note on Monday, September 25th. They issued a neutral rating and a $21.00 price objective on the stock. Finally, Cowen boosted their price objective on JetBlue Airways from $21.00 to $22.00 and gave the company a market perform rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $24.09.
JetBlue Airways (JBLU) traded up $0.59 during midday trading on Friday, hitting $22.93. The company’s stock had a trading volume of 4,361,571 shares, compared to its average volume of 4,094,137. JetBlue Airways has a 1 year low of $18.05 and a 1 year high of $24.13. The company has a market cap of $7,352.44, a price-to-earnings ratio of 11.82 and a beta of 0.68. 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 declared that its board has authorized a share repurchase program on Wednesday, December 13th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In related news, CEO Robin Hayes sold 2,000 shares of the company’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 transaction, the chief executive officer now directly owns 396,535 shares of the company’s stock, valued at approximately $8,910,141.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP George Martin J. St sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $21.59, for a total value of $53,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,665 shares of company stock worth $343,388. 0.60% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in JetBlue Airways by 2.2% during the 2nd quarter. FMR LLC now owns 19,075,077 shares of the transportation company’s stock worth $435,484,000 after buying an additional 404,086 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of JetBlue Airways by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 11,295,104 shares of the transportation company’s stock worth $209,297,000 after purchasing an additional 259,499 shares during the last quarter. State Street Corp raised its stake 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 worth $190,058,000 after purchasing an additional 40,286 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of JetBlue Airways by 5.1% in the third quarter. Donald Smith & CO. Inc. now owns 6,460,428 shares of the transportation company’s stock worth $119,712,000 after purchasing an additional 314,961 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of JetBlue Airways by 22.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock worth $90,072,000 after purchasing an additional 899,775 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.
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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.
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