TD Cowen Trims JetBlue Airways (NASDAQ:JBLU) Target Price to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price objective cut by TD Cowen from $7.00 to $6.00 in a report released on Tuesday, Marketbeat.com reports. They currently have a hold rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on the company. Barclays assumed coverage on JetBlue Airways in a research report on Wednesday, March 27th. They set an underweight rating and a $6.00 target price on the stock. Evercore ISI upped their target price on JetBlue Airways from $5.00 to $8.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a hold rating to a buy rating and increased their price objective for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised JetBlue Airways from an underweight rating to a neutral rating and set a $7.00 price objective on the stock in a report on Thursday, April 18th. Finally, Bank of America cut JetBlue Airways from a neutral rating to an underperform rating and dropped their target price for the stock from $6.00 to $3.00 in a report on Tuesday, January 9th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $5.78.

JetBlue Airways Stock Performance

JBLU opened at $5.72 on Tuesday. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45. The stock’s 50 day moving average price is $6.89 and its two-hundred day moving average price is $5.65. 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 announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted ($0.34) earnings per share. JetBlue Airways’s quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts predict that JetBlue Airways will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of hedge funds have recently added to or reduced their stakes in JBLU. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways in the first quarter worth about $25,000. GAMMA Investing LLC raised its position in JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after purchasing an additional 2,377 shares during the last quarter. Performa Ltd US LLC lifted its holdings in JetBlue Airways by 96.6% during the 3rd quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock worth $26,000 after buying an additional 2,800 shares in the last quarter. Versant Capital Management Inc boosted its position in JetBlue Airways by 41.3% in the 4th quarter. Versant Capital Management Inc now owns 6,371 shares of the transportation company’s stock valued at $35,000 after buying an additional 1,861 shares during the last quarter. Finally, Signaturefd LLC boosted its position in JetBlue Airways by 72.8% in the 3rd quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock valued at $30,000 after buying an additional 2,751 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

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.