Barclays Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $5.00

JetBlue Airways (NASDAQ:JBLU) had its target price reduced by equities research analysts at Barclays from $6.00 to $5.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Barclays‘s price target suggests a potential downside of 14.38% from the company’s previous close.

A number of other research firms also recently commented on JBLU. Susquehanna boosted their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. UBS Group assumed coverage on JetBlue Airways in a report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 price target for the company. Evercore ISI raised their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Bank of America lowered shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $6.00 to $3.00 in a research note on Tuesday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and raised their target price for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.68.

JetBlue Airways Price Performance

JBLU traded up $0.04 during midday trading on Monday, hitting $5.84. The company had a trading volume of 2,758,841 shares, compared to its average volume of 16,373,121. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.51 and a current ratio of 0.54. JetBlue Airways has a twelve month low of $3.42 and a twelve month high of $9.45. The company has a market capitalization of $1.99 billion, a PE ratio of -2.37 and a beta of 1.89. The firm’s 50-day simple moving average is $6.76 and its 200-day simple moving average is $5.72.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. JetBlue Airways had a negative return on equity of 5.72% and a negative net margin of 8.79%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted ($0.34) EPS. The business’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts predict that JetBlue Airways will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

A number of large investors have recently added to or reduced their stakes in JBLU. Texas Permanent School Fund Corp boosted its holdings in shares of JetBlue Airways by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 291,021 shares of the transportation company’s stock worth $2,159,000 after purchasing an additional 4,157 shares during the last quarter. PDS Planning Inc lifted its stake in shares of JetBlue Airways by 18.2% in the 1st quarter. PDS Planning Inc now owns 13,947 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 2,148 shares in the last quarter. Resonant Capital Advisors LLC acquired a new position in JetBlue Airways during the first quarter valued at approximately $74,000. BNP Paribas Financial Markets increased its position in shares of JetBlue Airways by 21.1% in the first quarter. BNP Paribas Financial Markets now owns 486,676 shares of the transportation company’s stock worth $3,611,000 after acquiring an additional 84,766 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of JetBlue Airways by 24.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 22,023 shares of the transportation company’s stock valued at $163,000 after buying an additional 4,275 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.