JetBlue Airways (NASDAQ:JBLU) Downgraded to Strong Sell at BidaskClub

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BidaskClub cut shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a strong sell rating in a research note issued to investors on Monday, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. Cowen restated a market perform rating and issued a $19.00 target price on shares of JetBlue Airways in a research report on Thursday, April 11th. Imperial Capital restated an outperform rating and issued a $26.00 target price (up previously from $24.00) on shares of JetBlue Airways in a research report on Thursday, June 20th. Citigroup raised shares of JetBlue Airways from a neutral rating to a buy rating and upped their price target for the stock from $19.50 to $26.00 in a research note on Tuesday, June 11th. Zacks Investment Research lowered shares of JetBlue Airways from a hold rating to a sell rating in a research note on Tuesday, April 16th. Finally, Barclays lowered shares of JetBlue Airways from an overweight rating to an equal weight rating and reduced their price target for the stock from $27.00 to $20.00 in a research note on Monday, March 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $20.02.

NASDAQ JBLU opened at $18.10 on Monday. JetBlue Airways has a 52 week low of $15.19 and a 52 week high of $20.14. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.50 billion, a PE ratio of 11.68 and a beta of 0.91. The stock has a 50-day moving average price of $18.17.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. JetBlue Airways had a net margin of 1.81% and a return on equity of 10.16%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. JetBlue Airways’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts anticipate that JetBlue Airways will post 1.91 earnings per share for the current year.

In related news, CEO Robin Hayes sold 2,500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $18.27, for a total transaction of $45,675.00. Following the completion of the sale, the chief executive officer now directly owns 480,666 shares of the company’s stock, valued at $8,781,767.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George Martin J. St sold 1,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $17.63, for a total transaction of $26,445.00. Following the sale, the executive vice president now directly owns 45,227 shares of the company’s stock, valued at $797,352.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,000 shares of company stock valued at $160,220. Company insiders own 0.79% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. lifted its stake in JetBlue Airways by 819.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,563 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 1,393 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in JetBlue Airways during the first quarter valued at approximately $25,000. Investors Research Corp acquired a new stake in JetBlue Airways during the first quarter valued at approximately $25,000. First Command Bank acquired a new stake in JetBlue Airways during the first quarter valued at approximately $35,000. Finally, Quantamental Technologies LLC acquired a new stake in JetBlue Airways during the first quarter valued at approximately $57,000. 91.54% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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