JetBlue Airways (NASDAQ:JBLU) Sets New 12-Month Low – What’s Next?

JetBlue Airways Co. (NASDAQ:JBLU) hit a new 52-week low on Tuesday . The company traded as low as $4.44 and last traded at $4.63, with a volume of 10755925 shares traded. The stock had previously closed at $4.82.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Susquehanna reduced their price target on JetBlue Airways from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded shares of JetBlue Airways from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $7.00 in a research report on Tuesday, March 4th. UBS Group dropped their price objective on shares of JetBlue Airways from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Citigroup upped their price target on JetBlue Airways from $6.85 to $7.60 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Finally, Seaport Res Ptn downgraded shares of JetBlue Airways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.33.

JetBlue Airways Trading Up 5.4 %

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -2.15 and a beta of 1.80. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. The business has a 50 day moving average price of $6.23 and a 200-day moving average price of $6.63.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.21. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. During the same period in the prior year, the company posted ($0.19) EPS. As a group, research analysts expect that JetBlue Airways Co. will post -0.69 EPS for the current fiscal year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, Director Nik Mittal bought 100,000 shares of JetBlue Airways stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the completion of the acquisition, the director now owns 116,443 shares of the company’s stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ursula L. Hurley sold 15,000 shares of JetBlue Airways stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the completion of the transaction, the chief financial officer now owns 41,833 shares in the company, valued at $313,747.50. The trade was a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently bought and sold shares of JBLU. Vanguard Group Inc. grew its stake in shares of JetBlue Airways by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 32,410,772 shares of the transportation company’s stock valued at $254,749,000 after buying an additional 121,267 shares in the last quarter. FMR LLC raised its stake in JetBlue Airways by 14,595.7% during the 4th quarter. FMR LLC now owns 16,599,279 shares of the transportation company’s stock valued at $130,470,000 after purchasing an additional 16,486,326 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of JetBlue Airways by 8.4% during the 4th quarter. American Century Companies Inc. now owns 8,771,993 shares of the transportation company’s stock worth $68,948,000 after purchasing an additional 678,891 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of JetBlue Airways by 18.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,725,671 shares of the transportation company’s stock valued at $52,864,000 after buying an additional 1,063,929 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of JetBlue Airways by 88.2% in the third quarter. JPMorgan Chase & Co. now owns 5,513,751 shares of the transportation company’s stock valued at $36,170,000 after buying an additional 2,584,350 shares during the period. 83.71% of the stock is currently 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.