JetBlue Airways (NASDAQ:JBLU) Given New $6.00 Price Target at JPMorgan Chase & Co.

JetBlue Airways (NASDAQ:JBLU) had its price target trimmed by JPMorgan Chase & Co. from $7.00 to $6.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other analysts have also recently issued reports on the stock. Evercore ISI increased their price target on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. TD Cowen reduced their price target on shares of JetBlue Airways from $7.00 to $6.00 and set a hold rating on the stock in a research report on Tuesday. Bank of America cut shares of JetBlue Airways from a neutral rating to an underperform rating and reduced their price target for the stock from $6.00 to $3.00 in a research report on Tuesday, January 9th. Barclays began coverage on shares of JetBlue Airways in a research report on Wednesday, March 27th. They set an underweight rating and a $6.00 price target on the stock. Finally, Susquehanna increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a neutral rating in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $5.78.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $5.91 on Wednesday. The firm’s 50-day moving average is $6.91 and its two-hundred day moving average is $5.65. JetBlue Airways has a 12 month low of $3.42 and a 12 month high of $9.45. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32.

JetBlue Airways (NASDAQ:JBLU) last posted its earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.38%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the company posted ($0.34) earnings per share. JetBlue Airways’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of JetBlue Airways during the first quarter worth approximately $25,000. GAMMA Investing LLC grew its position in shares of JetBlue Airways by 169.8% during the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after acquiring an additional 2,377 shares during the last quarter. Performa Ltd US LLC grew its position in shares of JetBlue Airways by 96.6% during the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock worth $26,000 after acquiring an additional 2,800 shares during the last quarter. Versant Capital Management Inc grew its position in shares of JetBlue Airways by 41.3% during the fourth quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock worth $35,000 after acquiring an additional 1,861 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of JetBlue Airways by 72.8% during the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock worth $30,000 after acquiring an additional 2,751 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.