JetBlue Airways (NASDAQ:JBLU) Stock Rating Raised to “Neutral” at UBS Group

JetBlue Airways (NASDAQ:JBLU) was upgraded by equities research analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued on Monday, Benzinga reports. The firm currently has a $3.50 price target on the transportation company’s stock, down from their previous price target of $4.00. UBS Group’s target price suggests a potential upside of 19.45% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. TD Cowen dropped their target price on JetBlue Airways from $6.00 to $5.00 and set a “hold” rating for the company in a report on Monday, August 24th. Seaport Research Partners cut JetBlue Airways from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Raymond James Financial restated an “underperform” rating on shares of JetBlue Airways in a research note on Monday, July 6th. Bank of America lifted their price target on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a report on Wednesday, July 1st. Finally, Barclays reduced their price target on shares of JetBlue Airways from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Nine equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $4.98.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $2.93 on Monday. JetBlue Airways has a 12-month low of $2.91 and a 12-month high of $6.62. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The firm has a market capitalization of $1.11 billion, a PE ratio of -1.23 and a beta of 1.77. The firm has a 50-day moving average price of $4.49 and a 200 day moving average price of $5.01.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. Research analysts anticipate that JetBlue Airways will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at JetBlue Airways

In other news, CFO Ursula Hurley sold 77,253 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 83,253 shares of company stock worth $474,477. Corporate insiders own 2.41% of the company’s stock.

Hedge Funds Weigh In On JetBlue Airways

Several large investors have recently bought and sold shares of JBLU. Bank of America Corp DE acquired a new position in JetBlue Airways in the second quarter valued at about $20,022,000. Quantinno Capital Management LP boosted its holdings in JetBlue Airways by 509.5% during the first quarter. Quantinno Capital Management LP now owns 649,600 shares of the transportation company’s stock worth $2,871,000 after buying an additional 543,017 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in JetBlue Airways by 91.1% during the third quarter. Counterpoint Mutual Funds LLC now owns 2,297,994 shares of the transportation company’s stock worth $9,721,000 after buying an additional 1,095,610 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of JetBlue Airways by 95.6% during the 2nd quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock worth $3,170,000 after buying an additional 270,358 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of JetBlue Airways during the 2nd quarter worth about $1,725,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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.