JetBlue Airways (NASDAQ:JBLU) Price Target Cut to $6.00

JetBlue Airways (NASDAQ:JBLU) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $7.00 to $6.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.84% from the stock’s current price.

Several other brokerages also recently weighed in on JBLU. Barclays began coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Evercore ISI boosted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Bank of America cut JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $6.00 to $3.00 in a research note on Tuesday, January 9th. Finally, Susquehanna boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.78.

JetBlue Airways Price Performance

Shares of JBLU traded down $0.15 during trading hours on Wednesday, hitting $5.95. 10,811,820 shares of the stock were exchanged, compared to its average volume of 16,748,719. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -6.33 and a beta of 1.86. The stock’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $5.65.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. JetBlue Airways had a negative return on equity of 4.41% and a negative net margin of 3.23%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts expect that JetBlue Airways will post -0.72 earnings per share for the current year.

Institutional Trading of JetBlue Airways

Several large investors have recently added to or reduced their stakes in JBLU. Vanguard Group Inc. raised its stake in JetBlue Airways by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 36,705,537 shares of the transportation company’s stock valued at $168,845,000 after purchasing an additional 3,099,071 shares during the period. U S Global Investors Inc. increased its stake in shares of JetBlue Airways by 24.2% in the fourth quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock worth $54,286,000 after acquiring an additional 1,903,910 shares during the last quarter. Invesco Ltd. increased its stake in shares of JetBlue Airways by 107.2% in the third quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock worth $15,925,000 after acquiring an additional 1,791,273 shares during the last quarter. American Century Companies Inc. boosted its holdings in JetBlue Airways by 49.6% in the third quarter. American Century Companies Inc. now owns 4,576,623 shares of the transportation company’s stock worth $21,052,000 after purchasing an additional 1,518,328 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in JetBlue Airways by 136.3% in the third quarter. AQR Capital Management LLC now owns 2,480,796 shares of the transportation company’s stock worth $11,412,000 after purchasing an additional 1,431,113 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

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.