Brokerages Set JetBlue Airways Corporation (NASDAQ:JBLU) Price Target at $5.41

JetBlue Airways Corporation (NASDAQ:JBLU) has received an average recommendation of “Reduce” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.4136.

Several research firms have recently weighed in on JBLU. Seaport Research Partners downgraded JetBlue Airways from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Susquehanna raised their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research report on Friday, July 17th. Bank of America boosted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Wednesday, July 1st. Finally, Citigroup downgraded JetBlue Airways from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $6.60 to $5.30 in a report on Friday, August 7th.

Insider Buying and Selling

In related news, CFO Ursula Hurley sold 77,253 shares of the 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 sale, the chief financial officer owned 211,099 shares in the company, valued at $1,215,930.24. This represents a 26.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 81,253 shares of company stock valued at $465,897. 2.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JetBlue Airways

Several hedge funds have recently made changes to their positions in JBLU. Bank of America Corp DE purchased a new stake in JetBlue Airways in the 2nd quarter valued at approximately $20,022,000. Primecap Management Co. CA purchased a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $13,549,000. Bank of New York Mellon Corp purchased a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $11,336,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at approximately $10,748,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of JetBlue Airways by 235.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,246,200 shares of the transportation company’s stock valued at $9,928,000 after buying an additional 1,577,500 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Trading Down 0.4%

Shares of JetBlue Airways stock opened at $4.55 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. The company has a fifty day simple moving average of $5.15 and a 200-day simple moving average of $5.06. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -1.90 and a beta of 1.70. JetBlue Airways has a 12-month low of $3.87 and a 12-month high of $6.62.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.03. The firm 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%. JetBlue Airways’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business earned ($0.21) EPS. On average, equities analysts forecast that JetBlue Airways will post -2.42 EPS for the current fiscal year.

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.