NEW YORK (TheStreet) -- JetBlue (JBLU) - Get Report  shares advanced by 1.06% to $26.62 on Wednesday afternoon, as declining crude prices helped boost the airline sector. 

Crude oil (WTI) is slumping 3.58% to $44.70 per barrel and Brent crude is sliding 2.57% to $47.82 per barrel, according to the index.

Oil futures were plunging on Wednesday due to China's weak economic data. 

The preliminary Caixin/Markit China Manufacturing Purchasing Managers' Index declined to 47 in September, its lowest since March 2009, The Wall Street Journal reports.

This only added to the growing worries about the health of the world's second largest economy. 

Additionally, Cuba and the U.S. are expected to talk about airline services next week, Reuters said. As the two countries progress to normalize relations, U.S. airlines could benefit from the change.

Separately, TheStreet Ratings team rates JETBLUE AIRWAYS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate JETBLUE AIRWAYS CORP (JBLU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 7.2%. Since the same quarter one year prior, revenues slightly increased by 8.0%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Net operating cash flow has significantly increased by 65.29% to $362.00 million when compared to the same quarter last year. In addition, JETBLUE AIRWAYS CORP has also vastly surpassed the industry average cash flow growth rate of 13.85%.
  • 37.78% is the gross profit margin for JETBLUE AIRWAYS CORP which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 9.42% trails the industry average.
  • The debt-to-equity ratio is somewhat low, currently at 0.73, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.48 is very weak and demonstrates a lack of ability to pay short-term obligations.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Airlines industry and the overall market on the basis of return on equity, JETBLUE AIRWAYS CORP has underperformed in comparison with the industry average, but has exceeded that of the S&P 500.
  • You can view the full analysis from the report here: JBLU