JetBlue Airways (NASDAQ:JBLU) Lowered to Strong Sell Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of JetBlue Airways (NASDAQ:JBLU – Free Report) from a sell rating to a strong sell rating in a research note published on Saturday.

Other analysts have also issued research reports about the company. BMO Capital Markets increased their target price on JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Raymond James Financial reissued an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. UBS Group boosted their target price on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. Finally, The Goldman Sachs Group raised their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.40.

Read Our Latest Analysis on JBLU

JetBlue Airways Stock Up 3.2%

Shares of NASDAQ:JBLU opened at $4.89 on Friday. The firm has a market capitalization of $1.85 billion, a PE ratio of -2.05 and a beta of 1.74. The business has a 50 day simple moving average of $5.64 and a two-hundred day simple moving average of $5.25. JetBlue Airways has a 1 year low of $3.87 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.70 and a quick ratio of 0.63.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts predict that JetBlue Airways will post -2.24 EPS for the current year.

Insider Activity at JetBlue Airways

In related news, CFO Ursula L. Hurley sold 77,253 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares of the company’s stock, valued at $1,215,930.24. This represents a 26.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director owned 35,479 shares in the company, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 111,253 shares of company stock worth $629,597. 2.41% of the stock is owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors have recently made changes to their positions in the company. AXQ Capital LP bought a new stake in shares of JetBlue Airways in the second quarter valued at about $641,000. Susquehanna Fundamental Investments LLC lifted its stake in JetBlue Airways by 8,509.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 864,430 shares of the transportation company’s stock worth $4,953,000 after acquiring an additional 854,389 shares during the period. Hsbc Holdings PLC grew its holdings in JetBlue Airways by 2,765.4% during the 2nd quarter. Hsbc Holdings PLC now owns 776,272 shares of the transportation company’s stock worth $4,399,000 after acquiring an additional 749,181 shares in the last quarter. Brasada Capital Management LP bought a new position in JetBlue Airways during the 2nd quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio purchased a new position in JetBlue Airways during the 2nd quarter valued at about $1,428,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

(Get Free Report)

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.

Read More