JetBlue Airways (NASDAQ:JBLU) Reaches New 1-Year Low – Time to Sell?

JetBlue Airways Corporation (NASDAQ:JBLU)’s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $2.88 and last traded at $2.8950, with a volume of 369,644 shares traded. The stock had previously closed at $2.91.

Analyst Ratings Changes

JBLU has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Thursday. UBS Group upgraded JetBlue Airways from a “sell” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $3.50 in a research note on Monday. Raymond James Financial restated an “underperform” rating on shares of JetBlue Airways in a research report on Monday, July 6th. TD Cowen decreased their price target on shares of JetBlue Airways from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, August 24th. Finally, Citigroup upgraded shares of JetBlue Airways from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $5.30 to $4.50 in a report on Tuesday, October 6th. Nine investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.98.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 0.70. The company’s 50 day moving average price is $4.43 and its 200-day moving average price is $5.00. The stock has a market cap of $1.13 billion, a P/E ratio of -1.25 and a beta of 1.77.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.03. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that JetBlue Airways Corporation will post -2.68 EPS for the current fiscal year.

Insider Transactions at JetBlue Airways

In other JetBlue Airways news, CFO Ursula Hurley sold 77,253 shares of JetBlue Airways stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 211,099 shares of the company’s stock, valued at approximately $1,215,930.24. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 83,253 shares of company stock valued at $474,477 in the last ninety days. 2.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its holdings in shares of JetBlue Airways by 157.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 3,373 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of JetBlue Airways in the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new position in JetBlue Airways in the 2nd quarter worth $27,000. Essential Partners LLC raised its holdings in JetBlue Airways by 1,048.5% during the first quarter. Essential Partners LLC now owns 7,293 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 6,658 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in JetBlue Airways by 162.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company’s stock worth $44,000 after purchasing an additional 4,768 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corp. (NASDAQ:JBLU) is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.