JetBlue Airways (JBLU) Lifted to Overweight at JPMorgan Chase & Co.

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JPMorgan Chase & Co. upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a neutral rating to an overweight rating in a research report released on Tuesday, MarketBeat reports. They currently have $20.00 price target on the transportation company’s stock.

JBLU has been the topic of a number of other research reports. Zacks Investment Research raised JetBlue Airways from a strong sell rating to a hold rating in a report on Wednesday, July 11th. BidaskClub raised JetBlue Airways from a strong sell rating to a sell rating in a report on Tuesday. ValuEngine raised JetBlue Airways from a sell rating to a hold rating in a report on Thursday, July 19th. Imperial Capital reaffirmed an outperform rating and issued a $26.00 price objective on shares of JetBlue Airways in a report on Monday, July 16th. They noted that the move was a valuation call. Finally, Bank of America set a $16.00 price objective on JetBlue Airways and gave the company a sell rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $20.66.

JBLU traded up $0.05 during trading on Tuesday, reaching $17.13. The company’s stock had a trading volume of 95,952 shares, compared to its average volume of 5,664,351. JetBlue Airways has a 52-week low of $15.76 and a 52-week high of $23.08. The firm has a market capitalization of $4.96 billion, a PE ratio of 9.99, a P/E/G ratio of 1.48 and a beta of 0.49. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 23rd. The transportation company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. JetBlue Airways had a return on equity of 9.53% and a net margin of 9.27%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that JetBlue Airways will post 1.42 EPS for the current year.

In other news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.12, for a total transaction of $38,240.00. Following the completion of the sale, the chief executive officer now directly owns 436,803 shares in the company, valued at approximately $8,351,673.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James G. Hnat sold 6,000 shares of JetBlue Airways stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $19.30, for a total transaction of $115,800.00. Following the sale, the executive vice president now owns 3,437 shares of the company’s stock, valued at $66,334.10. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of JBLU. Donald Smith & CO. Inc. raised its position in shares of JetBlue Airways by 64.4% during the 2nd quarter. Donald Smith & CO. Inc. now owns 6,941,452 shares of the transportation company’s stock worth $131,749,000 after purchasing an additional 2,719,980 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $29,956,000. Scout Investments Inc. acquired a new position in shares of JetBlue Airways during the 3rd quarter worth approximately $25,623,000. LSV Asset Management raised its position in shares of JetBlue Airways by 18.3% during the 2nd quarter. LSV Asset Management now owns 7,553,189 shares of the transportation company’s stock worth $143,359,000 after purchasing an additional 1,168,454 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $12,499,000. Institutional investors own 87.18% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 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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