JetBlue Airways (NASDAQ:JBLU) Cut to Strong Sell at ValuEngine

JetBlue Airways (NASDAQ:JBLU) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday, ValuEngine reports.

A number of other equities analysts have also recently commented on the stock. Cowen cut their price target on shares of JetBlue Airways from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Thursday, September 12th. Zacks Investment Research raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, September 2nd. TheStreet cut shares of JetBlue Airways from a “b” rating to a “c+” rating in a research note on Wednesday, August 28th. Credit Suisse Group boosted their price target on shares of JetBlue Airways from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.86.

JBLU stock opened at $18.43 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.48. JetBlue Airways has a one year low of $15.19 and a one year high of $19.83. The stock has a market cap of $5.59 billion, a PE ratio of 11.89, a P/E/G ratio of 0.58 and a beta of 0.84. The firm has a 50 day simple moving average of $16.95 and a two-hundred day simple moving average of $17.93.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.08. JetBlue Airways had a net margin of 7.19% and a return on equity of 12.12%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that JetBlue Airways will post 1.9 EPS for the current fiscal year.

In other news, CFO Stephen J. Priest sold 2,335 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $18.91, for a total value of $44,154.85. Following the completion of the sale, the chief financial officer now owns 22,086 shares of the company’s stock, valued at approximately $417,646.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Martin J. St sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $18.25, for a total transaction of $27,375.00. Following the sale, the executive vice president now directly owns 44,228 shares of the company’s stock, valued at approximately $807,161. The disclosure for this sale can be found here. Insiders sold a total of 14,335 shares of company stock valued at $262,095 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its position in JetBlue Airways by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 34,310 shares of the transportation company’s stock valued at $634,000 after buying an additional 655 shares during the period. OLD National Bancorp IN boosted its position in JetBlue Airways by 4.6% during the 2nd quarter. OLD National Bancorp IN now owns 15,850 shares of the transportation company’s stock valued at $293,000 after buying an additional 700 shares during the period. MML Investors Services LLC boosted its position in JetBlue Airways by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 32,545 shares of the transportation company’s stock valued at $602,000 after buying an additional 701 shares during the period. United Capital Financial Advisers LLC boosted its position in JetBlue Airways by 2.9% during the 2nd quarter. United Capital Financial Advisers LLC now owns 31,063 shares of the transportation company’s stock valued at $574,000 after buying an additional 867 shares during the period. Finally, Advisory Services Network LLC boosted its position in JetBlue Airways by 17.3% during the 2nd quarter. Advisory Services Network LLC now owns 6,852 shares of the transportation company’s stock valued at $127,000 after buying an additional 1,011 shares during the period. 91.07% 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.

Recommended Story: Compound Interest and Why It Matters When Investing

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

Receive News & Ratings for JetBlue Airways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JetBlue Airways and related companies with MarketBeat.com's FREE daily email newsletter.