Zacks Investment Research cut shares of JetBlue Airways Corporation (NASDAQ:JBLU) from a buy rating to a hold rating in a report issued on Monday.

According to Zacks, “Even though shares of JetBlue Airways have underperformed its industry so far this year, the carrier received good news when it reported better-than-expected revenues and earnings per share in the second quarter of 2017. The carrier performed well with respect to unit revenues in the second quarter of 2017. PRASM increased 5.9% , while RASM climbed 7% . Yield per passenger mile improved 5.7%. JetBlue's efforts to expand its popular premium service (Mint) and reduce debt levels are also encouraging. The carrier's deal with Goldman Sachs for implementing an accelerated share buyback program is another positive. However, high costs are likely to continue hurting bottom-line growth.”

Several other equities analysts have also recently issued reports on JBLU. BidaskClub cut shares of JetBlue Airways Corporation from a hold rating to a sell rating in a research note on Friday. Buckingham Research cut shares of JetBlue Airways Corporation from a buy rating to a neutral rating and dropped their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, July 26th. Morgan Stanley reissued an equal weight rating on shares of JetBlue Airways Corporation in a research note on Friday, July 14th. Stifel Nicolaus reissued a hold rating and issued a $23.00 price objective on shares of JetBlue Airways Corporation in a research note on Friday, May 26th. Finally, Vetr cut shares of JetBlue Airways Corporation from a strong-buy rating to a buy rating and set a $24.64 price objective on the stock. in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $25.69.

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) traded up 0.23% during mid-day trading on Monday, reaching $22.19. 2,150,857 shares of the company were exchanged. JetBlue Airways Corporation has a 12 month low of $15.70 and a 12 month high of $24.13. The stock has a market capitalization of $7.30 billion, a P/E ratio of 11.26 and a beta of 0.53. The stock has a 50 day moving average price of $22.85 and a 200-day moving average price of $21.39.

JetBlue Airways Corporation (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. JetBlue Airways Corporation’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Analysts predict that JetBlue Airways Corporation will post $2.03 earnings per share for the current year.

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In other news, EVP James G. Hnat sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $21.98, for a total transaction of $131,880.00. Following the transaction, the executive vice president now directly owns 25,992 shares of the company’s stock, valued at approximately $571,304.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James G. Hnat sold 15,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $21.67, for a total transaction of $325,050.00. Following the transaction, the executive vice president now directly owns 48,992 shares in the company, valued at $1,061,656.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,740 shares of company stock worth $972,026. Corporate insiders own 0.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in JBLU. Quantbot Technologies LP acquired a new stake in JetBlue Airways Corporation during the first quarter valued at approximately $138,000. Americafirst Capital Management LLC acquired a new stake in JetBlue Airways Corporation during the first quarter valued at approximately $141,000. CENTRAL TRUST Co acquired a new stake in JetBlue Airways Corporation during the second quarter valued at approximately $162,000. James Investment Research Inc. acquired a new stake in JetBlue Airways Corporation during the first quarter valued at approximately $150,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in JetBlue Airways Corporation during the first quarter valued at approximately $155,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

JetBlue Airways Corporation 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.

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Analyst Recommendations for JetBlue Airways Corporation (NASDAQ:JBLU)

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