JetBlue Airways (NASDAQ:JBLU) Cut to Neutral at Seaport Research Partners

Seaport Research Partners lowered shares of JetBlue Airways (NASDAQ:JBLU) from a buy rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports.

Other analysts also recently issued research reports about the stock. Bank of America increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Raymond James Financial restated an “underperform” rating on shares of JetBlue Airways in a research report on Monday, July 6th. UBS Group upped their price objective on shares of JetBlue Airways from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, June 23rd. BMO Capital Markets increased their price objective on shares of JetBlue Airways from $6.00 to $6.75 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Citigroup downgraded shares of JetBlue Airways from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $6.60 to $5.30 in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, JetBlue Airways currently has a consensus rating of “Reduce” and an average price target of $5.40.

JetBlue Airways Trading Down 2.8%

NASDAQ JBLU opened at $4.90 on Monday. The business’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $5.25. JetBlue Airways has a 12 month low of $3.87 and a 12 month high of $6.62. The firm has a market capitalization of $1.85 billion, a PE ratio of -2.05 and a beta of 1.74. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share (EPS) 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 the consensus estimate of $2.69 billion. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. On average, analysts expect that JetBlue Airways will post -2.24 EPS for the current year.

Insider Activity at JetBlue Airways

In other JetBlue Airways news, CFO Ursula L. Hurley sold 77,253 shares of JetBlue Airways stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 211,099 shares in the company, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction that occurred 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 sale, the director owned 35,479 shares of the company’s stock, valued at approximately $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 111,253 shares of company stock valued at $629,597 in the last ninety days. 2.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont bought a new position in JetBlue Airways during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in JetBlue Airways in the second quarter valued at $27,000. Rockefeller Capital Management L.P. increased its stake in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 3,373 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of JetBlue Airways during the fourth quarter valued at about $30,000. Institutional investors and hedge funds 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.