Citigroup Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $4.00

JetBlue Airways (NASDAQ:JBLU) had its price target decreased by Citigroup from $4.10 to $4.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a sell rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on the company. TD Cowen increased their price target on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday. Susquehanna lifted their price target on JetBlue Airways from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased 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 research note on Monday, December 8th. Six research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $5.03.

JetBlue Airways Stock Up 3.0%

NASDAQ:JBLU opened at $5.19 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. JetBlue Airways has a 12-month low of $3.34 and a 12-month high of $8.31. The stock’s fifty day simple moving average is $4.59 and its 200-day simple moving average is $4.68. The firm has a market capitalization of $1.89 billion, a P/E ratio of -3.93 and a beta of 1.78.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) earnings per share. Equities research analysts expect that JetBlue Airways will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently modified their holdings of the stock. Par Capital Management Inc. boosted its holdings in shares of JetBlue Airways by 105.3% during the second quarter. Par Capital Management Inc. now owns 5,487,425 shares of the transportation company’s stock worth $23,212,000 after acquiring an additional 2,814,870 shares during the period. Prentice Capital Management LP lifted its holdings in JetBlue Airways by 210.4% during the 3rd quarter. Prentice Capital Management LP now owns 2,276,428 shares of the transportation company’s stock worth $11,200,000 after purchasing an additional 1,542,959 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in JetBlue Airways by 755.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,659,497 shares of the transportation company’s stock valued at $7,020,000 after purchasing an additional 1,465,500 shares during the period. Amundi grew its holdings in JetBlue Airways by 962.8% in the 1st quarter. Amundi now owns 1,588,941 shares of the transportation company’s stock valued at $7,659,000 after buying an additional 1,439,435 shares in the last quarter. Finally, U S Global Investors Inc. increased its position in JetBlue Airways by 25.2% during 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 buying an additional 1,011,279 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.