BMO Capital Markets Cuts JetBlue Airways (NASDAQ:JBLU) Price Target to $5.25

JetBlue Airways (NASDAQ:JBLU) had its target price decreased by BMO Capital Markets from $6.75 to $5.25 in a research note released on Monday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the transportation company’s stock.

JBLU has been the topic of several other reports. The Goldman Sachs Group raised their price objective on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research report on Thursday, July 2nd. Susquehanna upped their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. UBS Group decreased their target price on shares of JetBlue Airways from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Thursday, September 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. Finally, Bank of America boosted their price target on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $5.28.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU opened at $4.23 on Monday. The stock has a market cap of $1.60 billion, a P/E ratio of -1.77 and a beta of 1.70. JetBlue Airways has a twelve month low of $3.87 and a twelve month high of $6.62. The stock has a 50 day moving average of $5.02 and a two-hundred day moving average of $5.06. 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 announced its earnings results 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 business had revenue of $2.70 billion for 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 company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) earnings per share. On average, research analysts forecast that JetBlue Airways will post -2.42 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.76, for a total transaction of $444,977.28. Following the completion of the transaction, the chief financial officer owned 211,099 shares in the company, valued at approximately $1,215,930.24. This represents a 26.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 81,253 shares of company stock valued at $465,897. Insiders own 2.41% of the company’s stock.

Institutional Trading of JetBlue Airways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cim Investment Management Inc. increased its stake in shares of JetBlue Airways by 7.3% during the second quarter. Cim Investment Management Inc. now owns 47,282 shares of the transportation company’s stock worth $271,000 after acquiring an additional 3,203 shares during the period. The Manufacturers Life Insurance Company raised its holdings in JetBlue Airways by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 157,664 shares of the transportation company’s stock worth $903,000 after purchasing an additional 21,131 shares in the last quarter. WINTON GROUP Ltd lifted its position in JetBlue Airways by 95.6% in the second quarter. WINTON GROUP Ltd now owns 553,212 shares of the transportation company’s stock valued at $3,170,000 after purchasing an additional 270,358 shares during the period. Engineers Gate Manager LP lifted its position in JetBlue Airways by 1,110.5% in the second quarter. Engineers Gate Manager LP now owns 173,100 shares of the transportation company’s stock valued at $992,000 after purchasing an additional 158,800 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in JetBlue Airways in the second quarter valued at about $169,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation (NASDAQ: JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America, Canada and select destinations in Europe. The company serves leisure and business travelers through a network connecting major cities, focus cities and vacation destinations.

JetBlue offers several travel products and services, including standard economy seating, premium Mint service on select routes, and EvenMore seating with additional legroom and other benefits.