JetBlue Airways (NASDAQ:JBLU) Price Target Cut to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price target lowered by equities researchers at Barclays from $6.00 to $5.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential downside of 11.66% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. UBS Group assumed coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 target price for the company. Evercore ISI boosted their price target on JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Susquehanna boosted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Finally, TD Cowen cut their price objective on JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.68.

JetBlue Airways Stock Down 4.6 %

Shares of NASDAQ:JBLU opened at $5.66 on Monday. 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 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average price is $6.74 and its two-hundred day moving average price is $5.74. The firm has a market cap of $1.93 billion, a P/E ratio of -2.29 and a beta of 1.89.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. JetBlue Airways had a negative return on equity of 5.72% and a negative net margin of 8.79%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, research analysts forecast that JetBlue Airways will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of JetBlue Airways during the first quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in shares of JetBlue Airways by 169.8% during 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 in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of JetBlue Airways in the first quarter worth $30,000. Performa Ltd US LLC raised its stake in JetBlue Airways by 96.6% in the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in 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 purchasing an additional 1,861 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.