JetBlue Airways Corporation (JBLU) Upgraded to “Buy” at Zacks Investment Research
JetBlue Airways Corporation (NASDAQ:JBLU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th. The firm presently has a $26.00 target price on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 17.43% 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 equities analysts also recently commented on the stock. Imperial Capital reissued an “outperform” rating and issued a $29.00 target price on shares of JetBlue Airways Corporation in a report on Tuesday, March 14th. Vetr downgraded shares of JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating and set a $24.64 target price on the stock. in a report on Tuesday, April 25th. Cowen and Company boosted their target price on shares of JetBlue Airways Corporation from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, April 26th. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 target price on shares of JetBlue Airways Corporation in a report on Friday, May 26th. Finally, Morgan Stanley upped their price target on shares of JetBlue Airways Corporation from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $25.69.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU) opened at 22.14 on Wednesday. JetBlue Airways Corporation has a 52 week low of $15.70 and a 52 week high of $24.13. The company’s 50 day moving average is $22.85 and its 200-day moving average is $21.39. The stock has a market capitalization of $7.28 billion, a PE ratio of 11.24 and a beta of 0.53.
JetBlue Airways Corporation (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. The business had revenue of $1.84 billion during 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 was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. On average, equities analysts predict that JetBlue Airways Corporation will post $2.03 earnings per share for the current year.
In other JetBlue Airways Corporation 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 directly owns 48,992 shares of the company’s stock, valued at $1,061,656.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP George Martin J. St sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $23.00, for a total transaction of $57,500.00. Following the completion of the transaction, the executive vice president now directly owns 28,457 shares of the company’s stock, valued at $654,511. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,740 shares of company stock worth $972,026. 0.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in JetBlue Airways Corporation during the first quarter worth about $138,000. Americafirst Capital Management LLC acquired a new position in JetBlue Airways Corporation during the first quarter worth about $141,000. James Investment Research Inc. acquired a new position in JetBlue Airways Corporation during the first quarter worth about $150,000. Kistler Tiffany Companies LLC acquired a new position in JetBlue Airways Corporation during the first quarter worth about $155,000. Finally, CENTRAL TRUST Co acquired a new position in JetBlue Airways Corporation during the second quarter worth about $162,000. 84.76% of the stock is owned by institutional investors.
JetBlue Airways Corporation 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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