JetBlue Airways’ (JBLU) Outperform Rating Reaffirmed at Imperial Capital
JetBlue Airways Co. (NASDAQ:JBLU)‘s stock had its “outperform” rating reissued by equities research analysts at Imperial Capital in a research note issued to investors on Friday.
JBLU has been the subject of a number of other reports. Argus cut shares of JetBlue Airways from a “buy” rating to a “hold” rating in a report on Friday, January 27th. They noted that the move was a valuation call. Zacks Investment Research cut shares of JetBlue Airways from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 14th. JPMorgan Chase & Co. raised shares of JetBlue Airways from a “neutral” rating to an “overweight” rating and increased their target price for the company from $21.42 to $27.00 in a report on Wednesday, January 25th. They noted that the move was a valuation call. Vetr raised shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating and set a $24.49 target price for the company in a report on Monday, January 23rd. Finally, Wolfe Research cut shares of JetBlue Airways from a “market perform” rating to an “underperform” rating in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. JetBlue Airways currently has an average rating of “Hold” and a consensus target price of $24.58.
Shares of JetBlue Airways (NASDAQ:JBLU) opened at 21.08 on Friday. The stock’s 50 day moving average price is $21.35 and its 200-day moving average price is $20.70. JetBlue Airways has a 52-week low of $14.76 and a 52-week high of $23.15. The firm has a market capitalization of $7.03 billion, a PE ratio of 11.28 and a beta of 0.26.
JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, April 25th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. JetBlue Airways had a net margin of 11.31% and a return on equity of 20.64%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that JetBlue Airways will post $1.87 EPS for the current fiscal year.
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In related news, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $20.18, for a total transaction of $40,360.00. Following the sale, the chief executive officer now owns 386,118 shares in the company, valued at $7,791,861.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James G. Hnat sold 9,127 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $20.41, for a total transaction of $186,282.07. Following the sale, the executive vice president now owns 26,932 shares in the company, valued at approximately $549,682.12. The disclosure for this sale can be found here. Insiders sold 48,367 shares of company stock worth $1,023,906 over the last quarter. Company insiders own 0.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in JBLU. Quantbot Technologies LP purchased a new stake in shares of JetBlue Airways during the third quarter worth about $2,346,000. ICM Asset Management Inc. WA purchased a new stake in shares of JetBlue Airways during the third quarter worth about $412,000. Evanston Investments Inc. dba Evanston Advisors purchased a new stake in shares of JetBlue Airways during the third quarter worth about $6,479,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of JetBlue Airways by 5.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 26,888 shares of the transportation company’s stock worth $464,000 after buying an additional 1,380 shares during the period. Finally, BB&T Securities LLC raised its stake in shares of JetBlue Airways by 18.7% in the third quarter. BB&T Securities LLC now owns 12,090 shares of the transportation company’s stock worth $208,000 after buying an additional 1,901 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.
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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