JetBlue Airways (JBLU) Cut to “Underperform” at Bank of America

Bank of America downgraded shares of JetBlue Airways (NASDAQ:JBLU) from a buy rating to an underperform rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Bank of America currently has $22.00 target price on the transportation company’s stock.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of JetBlue Airways from a strong sell rating to a hold rating in a research note on Wednesday, November 15th. Stephens initiated coverage on shares of JetBlue Airways in a research note on Wednesday, November 29th. They issued an equal weight rating and a $22.00 target price for the company. ValuEngine upgraded shares of JetBlue Airways from a buy rating to a strong-buy rating in a research note on Monday, December 11th. Cowen reiterated a market perform rating and issued a $24.00 target price (up previously from $22.00) on shares of JetBlue Airways in a research note on Tuesday, December 12th. Finally, Deutsche Bank lifted their target price on shares of JetBlue Airways from $26.00 to $27.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $24.09.

JetBlue Airways (NASDAQ JBLU) traded up $0.59 on Tuesday, hitting $22.93. 4,361,571 shares of the stock traded hands, compared to its average volume of 4,094,137. The stock has a market capitalization of $7,163.25, a P/E 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 has a 52-week low of $18.05 and a 52-week high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. research analysts expect that JetBlue Airways will post 1.77 earnings per share for the current year.

JetBlue Airways declared that its board has approved a share repurchase plan on Wednesday, December 13th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, EVP James G. Hnat sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $21.05, for a total value of $42,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Martin J. St sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $21.59, for a total transaction of $53,975.00. The disclosure for this sale can be found here. Insiders sold 16,665 shares of company stock valued at $343,388 over the last 90 days. 0.60% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in JBLU. Alliancebernstein L.P. lifted its position in JetBlue Airways by 1,135.5% during the second quarter. Alliancebernstein L.P. now owns 2,927,591 shares of the transportation company’s stock valued at $66,837,000 after purchasing an additional 2,690,638 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in JetBlue Airways by 68.9% during the third quarter. Frontier Capital Management Co. LLC now owns 3,600,572 shares of the transportation company’s stock valued at $66,719,000 after purchasing an additional 1,468,416 shares during the last quarter. Bank of Nova Scotia bought a new stake in JetBlue Airways during the second quarter valued at approximately $21,689,000. Disciplined Growth Investors Inc. MN lifted its position in JetBlue Airways by 22.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock valued at $90,072,000 after purchasing an additional 899,775 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in JetBlue Airways by 207.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,311,934 shares of the transportation company’s stock valued at $29,951,000 after purchasing an additional 884,560 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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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.

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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