JetBlue Airways Corporation (NASDAQ:JBLU) Receives Average Recommendation of “Reduce” from Analysts

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have been assigned a consensus recommendation of “Reduce” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.8778.

A number of brokerages have recently issued reports on JBLU. Wall Street Zen upgraded shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research report on Tuesday, April 21st. The Goldman Sachs Group decreased their price target on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Wednesday, April 1st. Evercore raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the company an “in-line” rating in a report on Thursday, January 29th. Finally, UBS Group reduced their price objective on JetBlue Airways from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Monday, March 16th.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, Director Thomas Winkelmann sold 35,473 shares of JetBlue Airways stock in a transaction on Friday, May 1st. The shares were sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the transaction, the director owned 13,379 shares of the company’s stock, valued at $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in JetBlue Airways by 85.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,124,292 shares of the transportation company’s stock worth $55,166,000 after acquiring an additional 5,591,470 shares during the period. Deutsche Bank AG raised its position in JetBlue Airways by 1,157.9% during the fourth quarter. Deutsche Bank AG now owns 3,356,021 shares of the transportation company’s stock valued at $15,270,000 after buying an additional 3,089,226 shares during the period. Par Capital Management Inc. lifted its position in shares of JetBlue Airways by 105.3% in the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after purchasing an additional 2,814,870 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in JetBlue Airways in the fourth quarter valued at about $8,795,000. Finally, Renaissance Technologies LLC raised its stake in shares of JetBlue Airways by 235.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock worth $9,928,000 after purchasing an additional 1,577,500 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

JetBlue Airways Price Performance

NASDAQ:JBLU opened at $5.05 on Friday. The stock has a 50 day moving average of $4.76 and a two-hundred day moving average of $4.89. JetBlue Airways has a 12 month low of $3.84 and a 12 month high of $6.50. The firm has a market cap of $1.88 billion, a P/E ratio of -2.60 and a beta of 1.69. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 4.25.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative return on equity of 32.76% and a negative net margin of 7.78%.The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that JetBlue Airways will post -2.83 earnings per share for the current fiscal year.

JetBlue Airways Company Profile

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.