JetBlue Airways Corporation (NASDAQ:JBLU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Even though shares of JetBlue Airways have underperformed its industry so far this year, the carrier received good news when it reported better-than-expected revenues and earnings per share in the second quarter of 2017. The carrier performed well with respect to unit revenues in the second quarter of 2017. PRASM increased 5.9% , while RASM climbed 7% . Yield per passenger mile improved 5.7%. 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 recently issued reports on JBLU. Vetr cut shares of JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating and set a $24.64 price objective for the company. in a report on Tuesday, April 25th. Imperial Capital raised their target price on shares of JetBlue Airways Corporation from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Cowen and Company raised 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 restated a “hold” rating and set a $23.00 target price on shares of JetBlue Airways Corporation in a report on Friday, May 26th. Finally, Morgan Stanley raised 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 report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.69.

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) opened at 21.81 on Monday. JetBlue Airways Corporation has a one year low of $15.70 and a one year high of $24.13. The firm has a 50-day moving average price of $22.77 and a 200-day moving average price of $21.41. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 11.07 and a beta of 0.53.

JetBlue Airways Corporation (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. Analysts anticipate that JetBlue Airways Corporation will post $2.03 earnings per share for the current fiscal year.

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In related news, EVP George Martin J. St sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $23.00, for a total value of $57,500.00. Following the completion of the sale, the executive vice president now owns 28,457 shares in the company, valued at approximately $654,511. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James G. Hnat sold 15,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,061,656.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,740 shares of company stock valued at $972,026. 0.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of JetBlue Airways Corporation during the first quarter valued at approximately $138,000. Americafirst Capital Management LLC purchased a new stake in shares of JetBlue Airways Corporation during the first quarter valued at approximately $141,000. James Investment Research Inc. purchased a new stake in shares of JetBlue Airways Corporation during the first quarter valued at approximately $150,000. Kistler Tiffany Companies LLC purchased a new stake in shares of JetBlue Airways Corporation during the first quarter valued at approximately $155,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of JetBlue Airways Corporation during the second quarter valued at approximately $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.

Analyst Recommendations for JetBlue Airways Corporation (NASDAQ:JBLU)

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