JetBlue Airways (NASDAQ:JBLU) Upgraded at Citigroup

Citigroup upgraded shares of JetBlue Airways (NASDAQ:JBLU) from a sell rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have $4.50 target price on the transportation company’s stock, down from their prior target price of $5.30.

Other analysts also recently issued research reports about the stock. TD Cowen dropped their target price on shares of JetBlue Airways from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Friday, July 17th. Seaport Research Partners downgraded JetBlue Airways from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Bank of America raised their target price on JetBlue Airways from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen cut JetBlue Airways from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Eight equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, JetBlue Airways presently has a consensus rating of “Reduce” and a consensus price target of $5.02.

JetBlue Airways Trading Down 1.3%

JetBlue Airways stock opened at $3.92 on Tuesday. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of $1.48 billion, a PE ratio of -1.64 and a beta of 1.77. The stock has a 50-day moving average of $4.84 and a two-hundred day moving average of $5.05. JetBlue Airways has a one year low of $3.79 and a one year high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. On average, research analysts anticipate that JetBlue Airways will post -2.48 EPS for the current fiscal year.

Insider Transactions at JetBlue Airways

In related news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the sale, the chief financial officer owned 211,099 shares in the company, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 83,253 shares of company stock worth $474,477 over the last quarter. Corporate insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JBLU. Rockefeller Capital Management L.P. boosted its stake in shares of JetBlue Airways by 157.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock worth $25,000 after acquiring an additional 3,373 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $27,000. Essential Partners LLC increased its stake in shares of JetBlue Airways by 1,048.5% in the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 6,658 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of JetBlue Airways by 162.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 4,768 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.