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

Other equities analysts have also recently issued reports about the company. Stephens assumed coverage on JetBlue Airways in a report on Wednesday, November 29th. They issued an equal weight rating and a $22.00 target price on the stock. JPMorgan Chase & Co. cut JetBlue Airways from an overweight rating to a neutral rating and set a $22.00 target price on the stock. in a report on Wednesday, November 1st. Cowen reiterated a market perform rating and issued a $24.00 target price (up from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. BidaskClub upgraded JetBlue Airways from a sell rating to a hold rating in a report on Friday, December 22nd. Finally, Zacks Investment Research upgraded JetBlue Airways from a strong sell rating to a hold rating in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.09.

Shares of JetBlue Airways (NASDAQ:JBLU) traded up $0.59 during mid-day trading on Tuesday, hitting $22.93. 4,361,571 shares of the stock traded hands, compared to its average volume of 4,094,137. The firm has a market cap of $7,163.25, a P/E ratio of 11.82 and a beta of 0.68. JetBlue Airways has a one year low of $18.05 and a one year high of $24.13. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25.

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

JetBlue Airways declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other JetBlue Airways news, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $18.96, for a total transaction of $97,075.20. Following the transaction, the director now directly owns 539,702 shares in the company, valued at approximately $10,232,749.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.38, for a total value of $42,760.00. Following the transaction, the chief executive officer now owns 398,535 shares in the company, valued at $8,520,678.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,665 shares of company stock worth $343,388. Company insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp raised its stake in shares of JetBlue Airways by 0.9% during the 2nd quarter. M&T Bank Corp now owns 19,383 shares of the transportation company’s stock worth $442,000 after purchasing an additional 181 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of JetBlue Airways by 2.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,310 shares of the transportation company’s stock worth $258,000 after purchasing an additional 310 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of JetBlue Airways by 11.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,414 shares of the transportation company’s stock worth $329,000 after purchasing an additional 1,453 shares during the period. National Asset Management Inc. raised its stake in shares of JetBlue Airways by 9.7% during the 2nd quarter. National Asset Management Inc. now owns 20,120 shares of the transportation company’s stock worth $460,000 after purchasing an additional 1,771 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in shares of JetBlue Airways by 5.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 44,102 shares of the transportation company’s stock worth $1,002,000 after purchasing an additional 2,157 shares during the period. Institutional investors 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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