JetBlue Airways (NASDAQ:JBLU) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup initiated coverage on shares of JetBlue Airways (NASDAQ:JBLU) in a research note issued to investors on Thursday. The firm set a “sell” rating and a $4.10 price target on the transportation company’s stock. Citigroup’s target price indicates a potential downside of 12.95% from the stock’s previous close.

Several other research analysts have also recently issued reports on JBLU. Susquehanna raised their target price on JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. TD Cowen upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, September 8th. UBS Group boosted their price objective on JetBlue Airways from $3.00 to $4.00 and gave the stock a “sell” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of JetBlue Airways in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.15.

JetBlue Airways Stock Up 3.3%

JBLU opened at $4.71 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42. The stock has a market cap of $1.71 billion, a PE ratio of -3.57 and a beta of 1.76. The stock’s fifty day simple moving average is $4.50 and its 200 day simple moving average is $4.68. JetBlue Airways has a 1-year low of $3.34 and a 1-year high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts expect that JetBlue Airways will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its position in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after buying an additional 5,049 shares in the last quarter. Bogart Wealth LLC raised its position in JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 7,000 shares during the last quarter. HUB Investment Partners LLC acquired a new stake in JetBlue Airways during the second quarter worth approximately $45,000. Wealth Enhancement Advisory Services LLC bought a new position in JetBlue Airways during the 2nd quarter valued at $47,000. Finally, Ballentine Partners LLC purchased a new stake in JetBlue Airways during the second quarter valued at about $48,000. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

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.