JetBlue Airways (NASDAQ:JBLU) PT Lowered to $6.00 at JPMorgan Chase & Co.

JetBlue Airways (NASDAQ:JBLU) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $7.00 to $6.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 4.90% from the company’s current price.

A number of other equities research analysts have also issued reports on JBLU. Barclays began coverage on shares of JetBlue Airways in a report on Wednesday, March 27th. They issued an “underweight” rating and a $6.00 price target on the stock. Bank of America lowered shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $6.00 to $3.00 in a report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and lifted their target price for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Susquehanna lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Finally, TD Cowen cut their target price on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.78.

JetBlue Airways Price Performance

JBLU stock opened at $5.72 on Wednesday. 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 52 week low of $3.42 and a 52 week high of $9.45. The firm’s fifty day moving average is $6.89 and its 200 day moving average is $5.65. The firm has a market cap of $1.95 billion, a P/E ratio of -2.32 and a beta of 1.86.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of JBLU. Vanguard Group Inc. lifted its position 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 acquiring an additional 3,099,071 shares during the period. U S Global Investors Inc. lifted its position in JetBlue Airways by 24.2% during the 4th quarter. U S Global Investors Inc. now owns 9,781,327 shares of the transportation company’s stock valued at $54,286,000 after acquiring an additional 1,903,910 shares during the period. Invesco Ltd. lifted its position in JetBlue Airways by 107.2% during the 3rd quarter. Invesco Ltd. now owns 3,462,036 shares of the transportation company’s stock valued at $15,925,000 after acquiring an additional 1,791,273 shares during the period. American Century Companies Inc. lifted its position in JetBlue Airways by 49.6% during the 3rd quarter. American Century Companies Inc. now owns 4,576,623 shares of the transportation company’s stock valued at $21,052,000 after acquiring an additional 1,518,328 shares during the period. Finally, AQR Capital Management LLC raised 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 buying an additional 1,431,113 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other 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.