TD Cowen Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $5.00

JetBlue Airways (NASDAQ:JBLU) had its price target cut by research analysts at TD Cowen from $6.00 to $5.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target indicates a potential upside of 1.73% from the stock’s previous close.

A number of other analysts have also commented on JBLU. Raymond James Financial reissued an “underperform” rating on shares of JetBlue Airways in a report on Monday, July 6th. Bank of America upped 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. Wall Street Zen cut JetBlue Airways from a “sell” rating to a “strong sell” rating in a research report on Saturday. Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $6.60 to $5.30 in a report on Friday, August 7th. Finally, The Goldman Sachs Group boosted their target price on JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research report on Thursday, July 2nd. Six research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $5.50.

JetBlue Airways Stock Up 0.5%

Shares of NASDAQ:JBLU traded up $0.03 during trading on Monday, reaching $4.92. 5,296,406 shares of the stock traded hands, compared to its average volume of 26,878,297. The stock has a market cap of $1.85 billion, a P/E ratio of -2.06 and a beta of 1.74. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a 50-day moving average of $5.64 and a two-hundred day moving average of $5.25. JetBlue Airways has a 52-week low of $3.87 and a 52-week high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. As a group, sell-side analysts expect that JetBlue Airways will post -2.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ursula L. Hurley sold 77,253 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer directly owned 211,099 shares in the company, valued at $1,215,930.24. This trade represents a 26.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the transaction, the director owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 111,253 shares of company stock valued at $629,597. Company insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JBLU. Stifel Financial Corp grew its position in shares of JetBlue Airways by 0.6% during the 4th quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock worth $1,488,000 after buying an additional 1,928 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of JetBlue Airways by 20.2% in the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 2,226 shares in the last quarter. Essex Financial Services Inc. raised its holdings in shares of JetBlue Airways by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 2,599 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after acquiring an additional 2,954 shares in the last quarter. Finally, Amundi lifted its stake in JetBlue Airways by 8.9% in the first quarter. Amundi now owns 39,447 shares of the transportation company’s stock worth $174,000 after acquiring an additional 3,238 shares during the period. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

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.