Bank of America Reaffirms Underperform Rating for JetBlue Airways (NASDAQ:JBLU)

Bank of America reaffirmed their underperform rating on shares of JetBlue Airways (NASDAQ:JBLU) in a report published on Friday morning, MarketBeat.com reports. They currently have a $6.50 target price on the transportation company’s stock.

A number of other equities analysts also recently commented on the company. UBS Group reiterated a “sell” rating and set a $5.00 price objective on shares of JetBlue Airways in a research report on Tuesday, November 26th. The Goldman Sachs Group reiterated a “sell” rating and set a $5.50 price target on shares of JetBlue Airways in a report on Friday, November 15th. StockNews.com raised shares of JetBlue Airways to a “sell” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of JetBlue Airways from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 target price on shares of JetBlue Airways in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of “Hold” and an average price target of $6.69.

JetBlue Airways Trading Up 0.4 %

Shares of JBLU stock opened at $7.64 on Friday. JetBlue Airways has a fifty-two week low of $4.49 and a fifty-two week high of $8.28. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.18 and a current ratio of 1.21. The stock’s fifty day moving average is $7.04 and its two-hundred day moving average is $6.34. The firm has a market capitalization of $2.65 billion, a P/E ratio of -3.03 and a beta of 1.84.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. JetBlue Airways’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.39) earnings per share. Research analysts expect that JetBlue Airways will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC lifted its holdings in JetBlue Airways by 1,951.2% during the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after buying an additional 4,000 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of JetBlue Airways in the third quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of JetBlue Airways during the second quarter worth $34,000. Point72 DIFC Ltd acquired a new stake in shares of JetBlue Airways in the second quarter valued at $48,000. Finally, GAMMA Investing LLC boosted its holdings in JetBlue Airways by 85.8% in the fourth quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 3,857 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

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.