JetBlue Airways Corporation (NASDAQ:JBLU) Receives $5.03 Average Price Target from Analysts

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have earned a consensus recommendation of “Reduce” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.9250.

JBLU has been the subject of several research analyst reports. TD Cowen upped their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Morgan Stanley cut their price target on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research note on Tuesday, January 13th. Finally, Citigroup decreased their price target on shares of JetBlue Airways from $4.10 to $4.00 and set a “sell” rating on the stock in a research report on Wednesday, January 7th.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently modified their holdings of the stock. U S Global Investors Inc. lifted its stake in JetBlue Airways by 25.2% in the 2nd quarter. U S Global Investors Inc. now owns 5,021,419 shares of the transportation company’s stock worth $21,241,000 after acquiring an additional 1,011,279 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of JetBlue Airways by 17.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,951,255 shares of the transportation company’s stock valued at $9,600,000 after purchasing an additional 291,758 shares during the period. SG Americas Securities LLC increased its holdings in shares of JetBlue Airways by 372.1% in the 3rd quarter. SG Americas Securities LLC now owns 485,945 shares of the transportation company’s stock valued at $2,391,000 after purchasing an additional 383,018 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of JetBlue Airways by 5,888.2% in the second quarter. Public Employees Retirement System of Ohio now owns 252,943 shares of the transportation company’s stock worth $1,070,000 after purchasing an additional 248,719 shares in the last quarter. Finally, Soviero Asset Management LP acquired a new stake in shares of JetBlue Airways during the second quarter worth approximately $2,369,000. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU traded up $0.40 during trading on Friday, reaching $5.38. The company had a trading volume of 28,199,006 shares, compared to its average volume of 15,459,685. The firm’s fifty day moving average is $4.67 and its 200 day moving average is $4.71. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82. The firm has a market capitalization of $1.96 billion, a PE ratio of -4.08 and a beta of 1.78. JetBlue Airways has a twelve month low of $3.34 and a twelve month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 28th. The transportation company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) earnings per share. On average, equities analysts forecast that JetBlue Airways will post -0.69 EPS for the current year.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.