UBS Group Forecasts Strong Price Appreciation for JetBlue Airways (NASDAQ:JBLU) Stock

JetBlue Airways (NASDAQ:JBLU) had its price objective upped by UBS Group from $4.00 to $4.50 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the transportation company’s stock. UBS Group’s price target points to a potential downside of 18.03% from the company’s previous close.

Several other analysts have also recently issued reports on JBLU. The Goldman Sachs Group reaffirmed a “sell” rating and set a $3.50 price objective on shares of JetBlue Airways in a research note on Monday, June 1st. TD Cowen upgraded JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Wall Street Zen raised JetBlue Airways from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Citigroup reduced their target price on JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Finally, BMO Capital Markets assumed coverage on JetBlue Airways in a research note on Tuesday, March 24th. They issued a “market perform” rating and a $4.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, JetBlue Airways currently has an average rating of “Reduce” and an average price target of $4.99.

JetBlue Airways Price Performance

Shares of JBLU stock opened at $5.49 on Tuesday. JetBlue Airways has a fifty-two week low of $3.84 and a fifty-two week high of $6.50. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -2.83 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.64 and a current ratio of 0.70. The stock’s 50-day simple moving average is $5.08 and its 200-day simple moving average is $5.02.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.59) earnings per share. As a group, equities analysts forecast that JetBlue Airways will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at JetBlue Airways

In other JetBlue Airways news, Director Vivek Sharma sold 32,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.41, for a total transaction of $173,120.00. Following the sale, the director directly owned 35,479 shares in the company, valued at approximately $191,941.39. The trade was a 47.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Winkelmann sold 35,473 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the sale, the director owned 13,379 shares in the company, valued at $62,881.30. This represents a 72.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its holdings in shares of JetBlue Airways by 91.0% during the 3rd quarter. Citigroup Inc. now owns 813,375 shares of the transportation company’s stock worth $4,002,000 after purchasing an additional 387,543 shares during the period. U S Global Investors Inc. boosted its position in shares of JetBlue Airways by 4.9% in the fourth quarter. U S Global Investors Inc. now owns 4,728,754 shares of the transportation company’s stock worth $21,516,000 after buying an additional 219,622 shares during the period. SG Americas Securities LLC raised its holdings in shares of JetBlue Airways by 72.8% during the 4th quarter. SG Americas Securities LLC now owns 839,551 shares of the transportation company’s stock valued at $3,820,000 after buying an additional 353,606 shares during the period. GSA Capital Partners LLP raised its stake in shares of JetBlue Airways by 185.8% during the fourth quarter. GSA Capital Partners LLP now owns 462,258 shares of the transportation company’s stock valued at $2,103,000 after purchasing an additional 300,522 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in JetBlue Airways by 80.0% in the 4th quarter. Wesbanco Bank Inc. now owns 270,000 shares of the transportation company’s stock worth $1,228,000 after buying an additional 120,000 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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.