JetBlue Airways (NASDAQ:JBLU) Price Target Lowered to $6.00 at TD Cowen

JetBlue Airways (NASDAQ:JBLU) had its target price cut by TD Cowen from $7.00 to $6.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a hold rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the company. Bank of America downgraded JetBlue Airways from a neutral rating to an underperform rating and lowered their price objective for the company from $6.00 to $3.00 in a research note on Tuesday, January 9th. UBS Group began coverage on JetBlue Airways in a research note on Wednesday, March 20th. They issued a sell rating and a $5.00 price objective for the company. Susquehanna upped their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a neutral rating in a research note on Tuesday, April 9th. Barclays began coverage on JetBlue Airways in a research note on Wednesday, March 27th. They issued an underweight rating and a $6.00 price objective for the company. Finally, JPMorgan Chase & Co. raised JetBlue Airways from an underweight rating to a neutral rating and set a $7.00 price objective for the company in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $5.78.

JetBlue Airways Stock Up 1.0 %

Shares of NASDAQ JBLU opened at $5.78 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -2.34 and a beta of 1.86. JetBlue Airways has a 12 month low of $3.42 and a 12 month high of $9.45. The stock has a 50-day moving average price of $6.86 and a two-hundred day moving average price of $5.66.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, April 23rd. The transportation company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. JetBlue Airways had a negative return on equity of 5.38% and a negative net margin of 8.79%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, analysts forecast that JetBlue Airways will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caas Capital Management LP bought a new position in shares of JetBlue Airways during the 1st quarter worth approximately $318,000. YHB Investment Advisors Inc. bought a new position in shares of JetBlue Airways during the 1st quarter worth approximately $30,000. Sage Rhino Capital LLC boosted its holdings in shares of JetBlue Airways by 27.0% during the 1st quarter. Sage Rhino Capital LLC now owns 18,046 shares of the transportation company’s stock worth $134,000 after buying an additional 3,834 shares in the last quarter. New Mexico Educational Retirement Board bought a new position in shares of JetBlue Airways during the 1st quarter worth approximately $486,000. Finally, PFG Investments LLC boosted its holdings in shares of JetBlue Airways by 507.0% during the 1st quarter. PFG Investments LLC now owns 70,691 shares of the transportation company’s stock worth $525,000 after buying an additional 59,045 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

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.